Silver retreats for third straight session, dollar flat in Asia

Silver futures declined in Asian trade to near year lows, while the dollar index barely budged down, ahead of US employment data later today and after the conclusion of Federal Reserve Chair Jerome Powell's Congressional testimony. 

As of 04:48 GMT, silver futures due on September 15 fell 0.51% to $15.49 an ounce from the opening of $15.57, while the dollar index shed 0.05% to 95.04 from the opening of 95.09. 

US Data

Now markets await US data on unemployment claims, expected to have risen 6 thousand to 220 thousand in the week ending July 14, while continuing claims are estimated with a 14 thousand drop to 1.725 million in the week ending July 7. 

The Philly Fed Manufacturing Index is expected to have increased to 21.5 in July from 19.9 in June, while the CB leading index is estimated with a 0.5% rise, up from 0.2% in May. 

 In his two-day testimony before the two chambers of Congress, Fed Chair Jerome Powell pointed to strong economic growth this year with continued improvement in the labor market and inflation rates, while cautioning from short-term consequences to trade protectionism.