Platinum trades at three-week low
Platinum prices fell today as the dollar gained ground while demand on commodities fell, prodding the metal prices downwards.
Platinum last traded at $1,007.75 an ounce, down from the opening price of $1,014.59, with a session-high at $1,015.8, and a three-week low at $1,004.10.
Platinum's ongoing decline comes as the dollar keeps eking out gains versus major rivals, making platinum contracts more expensive to non-dollar holders.
The dollar managed to muster strength this week against a basket of rivals after released Fed minutes showed the bank's readiness to hike interest rates in the June meeting.
The dollar index, which measures the greenback's performance versus a basket of six major rivals, last traded at 95.55, after opening the session at 95.30, with an intraday low at 95.21, and a four-week high at 95.62, after dithering controlled dollar's trading in the last two sessions.
U.S. crude reverses higher ahead of inventory data
U.S. crude prices reversed higher in European trade on Tuesday after sliding earlier, heading thereafter for its first daily gain in three, while investors wait for the American Petroleum Institute report on crude inventories in the world's largest energy consumer.
As of 12:55 GMT, U.S. crude rose to $48.45 a barrel from the opening price of $48.07, with a session-high at $48.53, and a low at $47.64.
U.S. crude May futures closed down 0.8% yesterday in what was their second daily loss in a row, on renewed production operations in Canada following the massive forest fires, while Iran signaled its intention to up its oil exports even more.
Oil traders wait for later private data on U.S. crude inventories for the week ending May 20, expected to show a drop for the second week, while the official report from the Energy Information Administration will be released tomorrow, forecast to show a drop of 1.5 million barrels to a total of 540 million barrels.
U.S. crude gained 4.5% last week in what was its second weekly profit in a row after U.S. shale production fell to its lowest since September 2013.
European stocks rise in morning trading due to gains of export companies benefiting from the euro decline
European stocks rose on Tuesday morning trades due to strong gains for shares of export companies benefiting from the single European currency the euro, falling to its lowest level in two months against the US dollar, and it overwhelmed the aggravation of the shares of energy and commodity companies losses.
The Dow Jones Stoxx Europe 600 index rose 1.1 percent by 10:17 pm GMT, the index lost yesterday in its first week's sessions around 0.5 percent, with the decline in the shares of energy and commodity companies.
Shares of export companies was the biggest gainer on the Dow Jones Stoxx Europe 600 index in morning trading, with the euro falling to its lowest level in two months against the US dollar to $ 1.1168, affected by strong expectationsthat the US central will raise interest rates at its meeting next month.
Yesterday Patrick Harkir Fed Chairman in the state of "Philadelphia," said that central bank could raise interest rates 2-3 times this year in case of strong economic data continued.
Investors this week awaiting the statements by some members of the US central bank to reassess those expectations, and Janet Yellen the bank governor speaks at Harvard University on Friday.
Shares of energy and commodity companies losses worsened in today's session, with the continued drop in oil prices in the global markets, and the decline in most commodities, metals priced in the US dollar currency.
Futures for the S & P 500 rose 0.3 percent, and the index closed trading yesterday, down by 0.2 percent affected by falling Shares of energy and commodities sector.
As for the most important European markets indicators euros Stoke 50 index rose by 1.2 percent, France's CAC 40 Index rose 1.2 percent, and Germany's DAX index increased by 0.8 percent, and in London's Financial Times 100 index rose 0.6 percent.