The US dollar continued to rally against most major currencies on Friday, which put weighed down on precious metals and attracted safe-haven demand.

Data showed that the US durable goods orders index rose 0.4% in August, beating analysts' forecasts of 1.1%.

The core reading of the durable goods orders index (excluding energy and food prices) rose 0.4% in August, also lower than forecasts of 1%.

Several FOMC members issued conflicting statements, as some stated that the US economic crisis is worse than it appears, and others expressed that the economy would recover from the pandemic soon.

Bearing in mind that Fed Chairman Jerome Powell stressed in his testimony before the US Congress that the ball is now in Congress' court to support US companies most hit by the coronavirus.

The dollar index rose against a basket of currencies by 0.3% to 94.6 points as of 19:42 GMT, after it hit a high of 94.6 and a low of 94.1.

The major US stock indices saw mixed performance in early trading on Friday, after the release of disappointing data in the US.

Data showed that the US durable goods orders index rose 0.4% in August, beating analysts' forecasts of 1.1%.

The core reading durable goods orders index (excluding energy and food prices) rose 0.4% in August, also lower than forecasts of 1%.

Several members of the US Federal Reserve expressed that the US economic recovery would continue until the end of this year, and would return to growth by next year.

As for stocks, Dow Jones held at 26,811 as of 15:38 GMT, Nasdaq added 0.6% or 70 points to 11,743, and S&P 500 rose 0.1% or 5 points to 3,251.

Copper prices fell on Friday, as the US dollar rose against most currencies, which pushed the industrial metal below the $3 psychological barrier.

This came after the market absorbed the Federal Reserve’s statements, which showed conflicting opinions about the US economic recovery.

Investors are focusing on Chinese economic data for signs on the state of the world's second largest economy and the largest consumers of metals.

The dollar index rose against a basket of currencies by 0.3% to 94.6 points as of 14:52 GMT, after it hit a high of 94.6 and a low of 94.1.

Copper has gradually recovered from the Covid-19 lockdown restrictions and economic closures, but as infections rose again and some countries re-imposed more restrictions, the demand was weighed down once again .

Copper December futures fell 0.4% to $2.95 a pound as of 14:49 GMT, after hitting a day high of $2.99 and a low of $2.94.

At 12:30 GMT, the US economy released its durable goods orders reading, which rose by 0.4% in August, lower than forecast of 1.1%, and lower than the previous reading of 11.4%.

The core durable goods orders (excluding transportation items) also rose by 0.4%, worse than forecasts of 1%, and lower than the previous reading of 2.6%. This data is considered negative for the US economy.