Palladium settles higher as dollar falls off one-year peak

Palladium prices tilted higher in American trade away from May 21 lows, as the dollar index fell off July 17 highs, following earlier data from the US, the world's largest economy. 

As of 01:41 GMT, palladium rose 0.08% to $971.32 an ounce from the opening of $970.52, while the dollar index dipped 0.03% to 94.99 from the opening of 95.01. 

Earlier US data showed US current account deficit widened to $129 billion in the first quarter from $128.2 billion in the fourth quarter of 2017. 

US existing home sales fell 0.4% in May to an annualized 5.43 million units, compared to a 2.7% drop in April to 5.45 million, revised from 5.46 million, while analysts expected a 1.1% rise to 5.52 million.

A panel discussion that gathers central bank governors from the US, Europe and Japan has just started today, with analysts looking for clues on the next steps in global monetary policy.