The US dollar rose against a basket of currencies on Wednesday, and rebounded from the 3-week low hit yesterday, to head for the first daily gain in 6 days, thanks to strong demand after the 10-year US Treasury bond rose.

The dollar index rose 0.1% to 93.88 points, after opening at 93.80 points, and hit a high at 93.67 points.

The index lost less than 0.2% yesterday, the fifth straight daily loss, and hit a 3-week low at 93.50 points.

The US dollar fell recently due to correction and profit-taking from a 13-month peak, and after the release of weak data on industrial production in the US.

The 10-year US Treasury yield rose 2.1% today, and hit a 5-month high at 1.673%, which lifts demand for the greenback.

This came due to growing odds that the Federal Reserve will start reducing its bond-buying program during its next meeting, which is an essential step before an interest rate hike.

European stocks rose on Wednesday, extending gains for the second straight day, near a 1-month high thanks to improved risk appetite after Wall Street's successive gains.

The Stoxx Europe 600 index rose 0.2% as of 11:10 GMT, after closing higher by 0.3%, resuming gains after a pause on Monday due to profit-taking from 1-month high at 469.52 points.

The food and beverage sector saw the largest gains in Europe today, with a rise of more than 1.2%, thanks to upbeat corporate earnings results.

S&P 500 futures rose more than 0.1% today, after the index closed higher by 0.75% yesterday, its fifth straight daily gain and hit a 6-week high at 4,520.40 points..

This came thanks to the strong start of the Q3 earnings reports season by major banks and companies.

Back to Europe, the Euro Stoxx 50 index rose 0.1%, France's CAC 40 rose 0.1%, Germany's DAX index rose 0.2%, and the UK's FTSE 100 rose 0.1%.

Oil prices fell on Wednesday, and pulled back from multi-year highs, to head for the second daily loss in 3 days, weighed down by a build in US crude inventories, and ahead of the Energy Information Administration's official report later today.

US crude fell 1.1% to $81.52 a barrel, after opening at $82.43, and hit a high at $82.58, and Brent crude fell 1.25% to $84.10 a barrel, after opening at $85.16, and hit a low at $85.22.

The US crude gained 0.2% yesterday, and Brent crude rose 1.2%, thanks to expected rise in global demand.

The US crude gained hit a 7-year high at $83.85 on Monday, and Brent crude hit its 3-year high of $86.02, due to concerns over a market deficit during the fourth quarter of this year.

The American Petroleum Institute reported in preliminary data that the US crude inventories rose 3.3 million barrels to 432 million barrels during the week ending October 15, which is the highest level since the week ending August 27, while analysts forecast a rise by 2 million barrels.

The US Energy Information Administration's official data will be released later today, amid forecasts for inventories to rise by 2.1 million barrels.

Gold prices rose on Wednesday, extending gains for the second day, but today's gain remain curbed by the US Treasury bond's rise to a 5-month high.

Gold prices rose 0.6% to $1,779.78 an ounce, after opening at $1,769.14, and hit a high of $1,766.82.

Gold closed lower by 0.25% yesterday, in the first daily gain out of 3 days, as the US dollar fell against its peers.

Gold prices are rising thanks to a relatively strong demand, especially in China, the world's largest consumer of the metal.

The 10-year US Treasury yield rose 2.1% today, and hit a 5-month high at 1.673%, which weighs down on demand for gold.

This came due to growing odds that the Federal Reserve will start reducing its bond-buying program during its next meeting, which is an essential step before an interest rate hike.

Gold stocks at the SPDR ETF remained unchanged yesterday, with the total at the lowest level since April 3, 2020 of 980.10 metric tonnes.