The US dollar fell against most major currencies on Wednesday, and pared its early gains.

This comes amid anticipation of the results of major companies for the first quarter of this year.

Netflix revealed yesterday its quarterly business results, and reported higher-than-expected profits and revenues, but the number of new subscribers was less than expected during the three months ending on March 31.

Major companies will report their earnings results in the next few days, led by Apple, Microsoft, Tesla, Facebook, Amazon and Alphabet.

Efforts to contain the Covid-19 pandemic are continuing by distributing millions of vaccines.

The dollar index fell against a basket of currencies by 0.1% to 91.1 points as of 18:31 GMT, after it hit a high of 91.4 points and a low of 91.09 points.

Gold prices rose on Wednesday, and hit a 2-month high as the US dollar fell against most of its peers.

This comes amid anticipation of the results of major companies for the first quarter of this year.

Netflix revealed yesterday its quarterly business results, and reported higher-than-expected profits and revenues, but the number of new subscribers was less than expected during the three months ending on March 31.

The dollar index fell against a basket of currencies by 0.1% to 91.1 points as of 18:45 GMT, after it hit a high of 91.4 points and a low of 91.09 points.

Gold June futures rose 0.8% or $14.70, and closed at a 2-month high of $1,793.1 an ounce, after hitting a day high at $1,798.4 and the low at $1,776.6.

US stock indices closed higher on Wednesday, and extended gains amid anticipation of the quarterly business results for the first quarter.

Netflix revealed yesterday its quarterly business results, and reported higher-than-expected profits and revenues, but the number of new subscribers was less than expected during the three months ending on March 31.

This comes amid anticipation of the results of major companies, led by Apple, Microsoft, Tesla, Facebook, Amazon and Alphabet.

To the oil market, To the oil market, WTI crude May futures fell 2.1% or $1.32, and closed at $61.35 a barrel, after hitting a high of $62.5 and a low of $60.8.

Brent June futures fell 1.9% or $1.25, and closed at $65.32 a barrel, after hitting a high of $66.5 and a low of $64.9.

As for stocks, Dow Jones rose 0.9% or 316 points, and closed at 34,137, with a day high of 34,160, and a low of 33,773.

Nasdaq rose 1.2% or 164 points to 13,950, with a high of 13,951 and a low of 13,706 points.

S&P 500 rose 0.9% or 38 points to 4,173, after hitting a high of 4,175 and a low of 4,126.

Oil prices continued to drop as the US market opened on Wednesday, to head for the second straight daily loss, and pulled back from a 5-week high on profit-taking, amid demand concerns in India and Japan, in addition to unexpected build in the US crude inventories according to preliminary data, and ahead of the EIA weekly report.

US crude fell 2.2% to $61.04 a barrel, after opening at $62.39, and hit a high at $62.54, and Brent crude fell 1.7% to $65.08 a barrel, after opening at $66.22, and hit a high of $66.50.

US crude lost 1.7% after hitting a 5-week high at $64.36 yesterday, and Brent crude futures fell 1.4% after hitting the highest level since March 18 at $68.04.

India announced that the total umber of infections rose to over 15 million, which makes India second only to the US in terms of the worst countries affected by pandemic.

The Indian health authorities announced on Tuesday the highest daily death toll from Covid-19, amid a huge crisis of oxygen shortage.

To mitigate these developments, the Indian authorities may resort to tightening the lockdown, which would weigh down on fuel consumption in the third largest oil consumer in Asia, which forced refiners to reduce operations.

Reuters reported that many Japanese companies believe that the Japanese economy will suffer a fourth wave of infections, which would deal another blow to businesses in the country.

The American Petroleum Institute (API) revealed yesterday in preliminary data that the US crude inventories rose 0.4 million barrels during the week ending April 16, missing forecasts of a drop by 4.4 million barrels.

While the US Energy Information Administration's official data will be released later today, amid forecasts for inventories to drop by 3.7 million barrels.

The US production rose 100 thousand barrels last week, with a total of 11 million barrels per day.