The US dollar turned higher during the European market on Thursday against a basket of major and minor currencies, after falling earlier in the Asian market trading, ahead of important data from the United States about levels of inflation over the May, worth mentioning that the Federal Reserve raising the inflation forecast for this year over the forecast issued yesterday at the conclusion of its regular meeting, and the decline of the stakes increasing the interest rates for one-time, at least through this year holds back the US currency gains.

By the time 11:45 GMT, the dollar index is trading around the level of 95.00 points from the opening level of 94.65 points, and recorded the highest level of 95.12 points and 94.25 points as the lowest level.

The dollar index ended trading yesterday, down by 0.4 percent in the second daily loss in the last three days with the accelerated sale of US currency operations against most major and minor currencies after the decision and the statements issued yesterday from the Federal Reserve at the end of its fourth meeting this year.

At the end of its fourth meeting this year, the Federal Reserve kept interest rates steady unchanged between 0.25%: 0.50%, and pointed out that it is still planning to raise interest rates twice this year, but directs it difficult to tighten monetary policy in light of conflicting economic data and higher risk markets and stressed that the pace of future increases in interest rates will be slower than previously expected.

The Council reduced economic growth expectations during 2016 -2 017 in exchange for rising inflation expectations this year in light of improved oil prices, the Council expected to grow between 1.9%: 2.0% in 2016, down from 2.1%: 2.3% in the March forecast, and in 2017 The Council expected to grow by 1.9%: 2.2% versus 2.0%: 2.3% forecast of March, for the levels of inflation, the Council expected range between 1.3%: 1.7% in the current year from 1.0%: 1.6% in the previous forecast.

And Janet Yellen president of the Federal Reserve said in a press conference, commenting on the monetary policy statement "that the conflicts of recent economic data justifies the adoption of the Council cautious monetary policy," she said Yellin that the global pressure on the US economy may continue with the continuation of the possibility of the existence of risks in the near horizon, led by Britain's referendum out of the European economic Union.

US monetary policy makers kept the targeted interest rate at 0.875 percent, which means two increases of 25 basis points over the four remaining meetings of the Federal Reserve during the current year, and expectations of long-term interest rate on federal funds fell to 3 percent from 3.3 percent in March.

After the end of the Fed meeting, traders cut stakes of the increase in US interest rates for once at least during this year to 40 percent from 49 percent before the meeting.

And the US economy later in the day waiting for several important data about the levels of inflation and the labor market and industry data, the US monetary policy makers relies heavily on improved levels of inflation so that they could raise interest rates in the near future.

About levels of inflation consumer prices for the month of May is expected to rise by 0.3% and the previous reading recorded a rise of 0.4%, and excluding food and fuel projected same as the previous reading of 0.2% rise.

Labor market expected weekly unemployment claims 267 thousand for the week ending June 11th from 264 thousand the previous week, and about the manufacturing sector; Philadelphia index is expected growth of 1.1 points as in the June from contraction of 1.8 points in May.

As the current account will be issued, and the expected $ 124 billion deficit in the first quarter of 2016 from deficit by $ 125 billion in the last quarter of 2015.

US crude oil extended its decline on Thursday, extending losses for the sixth day in a row, to its lowest level in four weeks, under pressure from the rise of the US dollar against a basket of currencies, the decline in crude inventories in the United States for the fourth week in a row limit losses.

By 12:45 GMT, US crude fell to $ 47.05 a barrel from the opening level of $ 47.43 and recorded the highest level of $ 47.73 and lowest around $ 47.02, the lowest since May 16th last.

US crude oil "July delivery" Finish trading yesterday, down by 0.8 percent, the fifth straight daily loss, among the longest series of daily loss since last February, under pressure from concerns about the weakness of global demand and continued market share conflict.

The dollar index rose 0.5 percent, recouping the entire loss incurred yesterday, recording its highest level in two weeks 95.17 points, reflecting the acceleration of purchase of the US currency operations again against a basket of currencies, which put pressure negatively on oil prices being quoted in dollars and rising value for holders of other currencies.

US Department of Energy said yesterday that crude inventories in the country fell by 0.9 million barrels the week ending June 10, the fourth weekly decline in a row, to total 531.8 million barrels, the lowest level since the week ending April 1st last.

Silver prices rose on Thursday to the highest in six weeks on higher demand on the safe haven, which pushed prices higher alongside gold as worries gripped the markets. 

Silver last traded at $17.70 an ounce, compared to the opening price of $17.55, with a session-low at $17.50, and a six-week high at $17.84. 

Silver's current gains come amid rising demand on the safe haven due to concerns over Brexit and the global economy. 

On the other hand, the dollar hit a two-week high but that didn't affect silver due to demand on the safe haven. 

The dollar index, which tracks the U.S. currency's performance against a basket of major counterparts, last traded at 95.25, compared to the opening of 94.57, with an intraday low at 94.18, and a two-week high at 95.28, after the index hit a five-week trough last week at 93.41. 

U.S. crude prices fell on Thursday to the lowest in five weeks after six consecutive sessions of losses, due to renewed worries in the markets while the dollar rises. 

U.S. crude futures last traded at $46.43 a barrel, compared to the opening price of $47.46, with an intraday high at $47.72, and a five-week low at $46.12. 

Crude's losses came on renewed worries in the markets over the growth of the global economy, effecting energy and oil negatively and pushing commodities down. 

Dollar rose against a basket of rivals to a two-week high, raising negative pressure on crude and other commodities according to their inverse relation. 

The dollar index, which tracks the U.S. currency's performance against a basket of major counterparts, last traded at 95.25, compared to the opening of 94.57, with an intraday low at 94.18, and a two-week high at 95.28, after the index hit a five-week trough last week at 93.41.