Silver closes higher as dollar steadies
Silver prices rose on Wednesday, as the US dollar steadied against most of its peers ahead of the major data releases.
The US 10-year Treasury yield fell today below 1.5% for the first time since May 7.
Markets await US inflation data tomorrow, which would set estimates correctly for policy tightening by the Fed in the next few years, amid forecasts for the US consumer price index by 0.4%.
The weekly jobless claims will also be released, which is considered a preliminary gauge of the labor market.
The dollar index rose against a basket of currencies by less than 0.1% to 90.1 points as of 19:22 GMT, after it hit a high of 90.1 points and a low of 89.8 points.
Silver July futures rose 1% or 27 cents, and closed at $28 an ounce.
US stocks close lower ahead of major economic data
The major US stock indices closed lower on Wednesday, as Dow Jones fell for the third straight day, ahead of key US inflation data.
The US 10-year Treasury yield fell today below 1.5% for the first time since May 7.
Markets await US inflation data tomorrow, which would set estimates correctly for policy tightening by the Fed in the next few years, amid forecasts for the US consumer price index by 0.4%.
The weekly jobless claims will also be released, which is considered a preliminary gauge of the labor mark
To the oil market, WTI crude July futures fell 0.1% or 9 cents, and closed at $69.96 a barrel, after hitting a high of $70.6 and a low of $69.4.
Brent August futures held $72.22 a barrel, after hitting a high of $72.8 and a low of $71.8.
As for stocks, Dow Jones fell 0.4% or 152 points, and closed at 34,447, with a day high of 34,654, and a low of 34,439.
S&P 500 fell 0.2% or 7 points to 4,219, after hitting a high of 4,237 and a low of 4,218.
Nasdaq fell 0.1% or 13 points to 13,911, with a high of 14,003 and a low of 13,906.
Oil falls despite US inventories decline
Oil prices fell on Wednesday, as the US dollar steadied against most of its peers, and turned lower despite a large draw in the US crude inventories.
The Energy Information Administration reported today that the US crude inventories fell 5.2 million barrels to 474 million barrels during the past week, while analysts forecasts a drop by 4.1 million barrels.
While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories fell 2.1 million barrels during the same period.
The dollar index rose against a basket of currencies by less than 0.1% to 90.1 points as of 18:04 GMT, after it hit a high of 90.1 points and a low of 89.8 points.
As of 18:01 GMT, WTI crude July futures fell 0.4% to $69.7 a barrel, after hitting a high of $70.6 and a low of $69.4.
Brent August futures fell 0.3% to $71.9 a barrel, after hitting a high of $72.8 and a low of $71.8.
Dollar turns higher ahead of major US data
The US dollar steadied against most of its peers, erasing its early losses ahead of key US economic data.
The US 10-year Treasury yield fell today below 1.5% for the first time since May 7.
Markets await US inflation data tomorrow, which would set estimates correctly for policy tightening by the Fed in the next few years, amid forecasts for the US consumer price index by 0.4%.
The weekly jobless claims will also be released, which is considered a preliminary gauge of the labor market.
The dollar index rose against a basket of currencies by less than 0.1% to 90.1 points as of 18:16 GMT, after it hit a high of 90.1 points and a low of 89.8 points.