The US dollar rose against most of its counterparts today, as investors anticipate the latest developments in the coronavirus health crisis in addition to President Donald Trump's remarks about the matter.

The White House announced that President Trump will hold a press conference later today, with health care experts participating, to speak about the extent of the coronavirus impact and spread.

Trump's remarks will come after the US stock market suffered a 2-day massive drop, due to virus-driven anxiety.

Further cases of the deadly virus emerged in Algeria, Bahrain and Kuwait, while the virus death toll increased in France, Italy, China, Japan and South Korea.

The World Health Organization stressed that the coronavirus is a serious concern, but it has not yet transformed into a global pandemic.

The dollar index rose against a basket of major currencies by 0.1% to trade at 99.1 points as of 19:07 GMT, after it hit earlier an intraday high of 99.2 and a low of 98.9.

The U.S. Department of Housing unveiled today that the new home sales reading in January rose to nearly 13-year high.

The new home sales index rose by 7.9% to 764 thousand housing units  in January, which is the highest level since July 2007.

The average sales price rose by 14% to $248.2K in January 2020, from the same month of 2019.

The US Energy Information Administration (EIA) showed today that the US crude inventories rose by 0.5 million barrels to reach a total of 443.3 million barrels during past week, lower than forecasts of 2.8 million.

The gasoline stockpiles fell 2.7 million barrels to a total of 256.4 million, and distillate stockpiles declined by 2.1 million barrels to a total of 138.5 million.

While the American Petroleum Institute (API) showed yesterday in preliminary data that inventories rose by 1.3 million barrels during same period.

Palladium futures fell on Wednesday, amid the growing fears over the coronavirus outbreak and its impact on global demand.

The coronavirus infections and deaths continued to increase in multiple countries, led by China, South Korea, Italy and Japan.

While the new cases of the virus emerged in Austria, Switzerland, Kuwait and Bahrain, which escalated fears of the virus turning into a global pandemic.

The World Health Organization advised not to use the word "pandemic", as it does not fit the facts, which may otherwise cause fear among people.

Despite lots of cars factories returning to work in China, which means higher demand for the metal that is heavily used in the manufacturing of car components to reduce pollutant emissions, but fears over the failure in containing the virus outbreak still weigh down on prices.

Palladium March futures fell 0.2% to trade at $2,654.9 an ounce as of 14:21 GMT, after hitting a high of $2,683.8 and a low of $2,616.