The US dollar fell against a basket of currencies on Thursday, and pulled back from a 16-month peak, to head for the first daily loss in 5 days due to profit-taking.

The dollar index fell 0.2% to 96.65 points, after opening at 96.80 points, and hit a high at 96.81 points.

The index fell 0.4% yesterday, the fourth straight daily gain, due to profit-taking from a 16-month peak of 96.93 points.

The US Department of Labor revealed that the number of initial unemployment claims fell to the lowest level since 1969.

The Federal Reserve meeting minutes showed the bank's members are open to accelerating the reduction of bond-buying program if inflation continues to rise, while speeding up raising interest rates.

President of the Federal Reserve Bank of San Francisco, Mary Daly, said in an interview with Yahoo Finance that she would be open to speeding up the pace of tapering the Fed's bond-buying program.

Oil prices continued to fall as the US market opened on Thursday, deepening losses for the second day in a row, due to US oversupply worries, after a surprise build in the US crude inventories, and the recent decision to tap the country's strategic fuel reserves.

US crude fell 0.7% to $77.79 a barrel, after opening at $78.32, and hit a high at $78.62, and Brent crude fell more than 0.5% to $81.72 a barrel, after opening at $82.17, and hit a high at $82.57.

US crude lost 0.25% yesterday, and Brent crude fell 0.1% after the US Energy Information Administration's weekly report. 

The US Energy Information Administration reported today that the US crude inventories rose 1 million barrels during the past week, while analysts forecast a drop by 1.7 million barrels.

While the US output rose 100K barrels last week, with the total at 11.5 million barrels per day.

The White House announced on Tuesday that it has decided to release 50 million barrels from the Strategic Petroleum Reserve, 32 million barrels will be an exchange over the next several months, and 18 million barrels will be an acceleration into the next several months of a sale of oil that Congress had previously authorized.

The US decision came in coordination with China, Japan, India, South Korea and the UK aimed at easing energy prices and curbing inflation.

Oil prices fell on Thursday, deepening losses for the second day in a row, due to US oversupply worries, after a surprise build in the US crude inventories, and the recent decision to tap the country's strategic fuel reserves.

US crude fell 0.5% to $77.97 a barrel, after opening at $78.32, and hit a high at $78.62, and Brent crude fell more than 0.3% to $81.94 a barrel, after opening at $82.17, and hit a high at $82.57.

US crude lost 0.25% yesterday, and Brent crude fell 0.1% after the US Energy Information Administration's weekly report.

The US Energy Information Administration reported today that the US crude inventories rose 1 million barrels during the past week, while analysts forecast a drop by 1.7 million barrels.

While the US output rose 100K barrels last week, with the total at 11.5 million barrels per day.

The White House announced on Tuesday that it has decided to release 50 million barrels from the Strategic Petroleum Reserve, 32 million barrels will be an exchange over the next several months, and 18 million barrels will be an acceleration into the next several months of a sale of oil that Congress had previously authorized.

The US decision came in coordination with China, Japan, India, South Korea and the UK aimed at easing energy prices and curbing inflation.

European stocks rose on Thursday, extending gains for the second straight session, within recovery from a 3-week low, after positive political developments in Germany, but today's gains remain limited due to fears over the coronavirus spread in Europe.

The Stoxx Europe 600 index rose 0.4% as of 11:22 GMT, after closing higher by 0.1% yesterday, after hitting the lowest level since November at 476.59 points.

The public utilities sector saw the largest gains in Europe today, with a rise of more than 1.5%, thanks to the recovery of most of the sector companies.

A new deal to form a new government was announced yesterday between Germany's Social Democrats, the Greens and the Free Democrats. The agreement will end the era of Chancellor Angela Merkel to Olaf Scholz in early December.

S&P 500 futures rose 0.2% today ahead of Wall Street's opening, after the index closed 0.25% higher yesterday.

Back to Europe, the Euro Stoxx 50 index rose 0.4%, France's CAC 40 rose 0.5%, and Germany's DAX index rose 0.3%, while the UK's FTSE 100 rose 0.2%.