Coffee futures surged over two percent in American trade as the dollar index inched down according to their inverse relation, which follows earlier data from the U.S. on the housing market. 

As of 07:51 GMT, coffee futures due on May 16 rose 2.01% to $161.74 a bushel from the opening of $158.55, with an intraday high at $161.80, and a low at $158.53, while the dollar index shed 0.15% to 99.66 from the opening of 99.72. 

Earlier U.S. data showed existing home sales fell 3.7% in February to an annualized 5.48 million units, compared to January's 3.3% rise to 5.69M, while analysts expected a 2.5% drop to 5.48M. 

The Housing Price Index came at zero in January, as analysts expected a 0.4% rise, same as in December, and finally, the Energy Information Administration released its report on U.S. crude stocks showing a larger than expected buildup last week. 

Silver prices rose modestly today to near a two-week high hit yesterday, even as the dollar stopped rising against a basket of currencies, and amid demand on safe havens in the markets. 

Silver last traded at $17.54 an ounce, compared to the opening of $17.53, with a session-high at $17.58, and a low at $17.43. 

Silver's rise comes amid upward demand on safe havens in the markets due to selling pressures on U.S. and global stocks, adding to concerns about global trade after the G20 meetings saw the dropping of the pledge to keep trade open and free. 

The dollar stopped falling today against a basket of currencies after statements from Fed official expressing her desire to see more than three hikes this year, but demand on safe havens offset dollar's usually negative impact. 

The dollar index, tracking the greenback versus an array of six major counterparts, inched down to 99.63 from the opening of 99.69, with an intraday high at 99.91, and a low at 99.55. 

Crude prices kept falling on Wednesday, on track for a weekly loss after the Energy Information Administration's report showed a large U.S. inventory buildup, heaping pressure on prices. 

U.S. crude futures last traded at $47.71 a barrel, down from the opening of $48.12, with a session-high at $48.21, and a low at $47.08. 

The Energy Information Administration released its report on U.S. crude stocks, showing a rise of 5 million barrels in the week ending March 17, after analysts expected a 1.9M buildup, and compared to the previous reading's 0.2M drop. 

The U.S. inventory buildup indicated rising U.S. shale production, in turn hurting prices on oversupply concerns after the failure of OPEC's production cuts to limit global supplies. 

On the other hand, the dollar stopped falling against a basket of currencies today, heaping pressure on prices, after markets shrugged off OPEC's hints at possible extension to the deal to cut output to the second half of the year. 

Sterling wavered on Wednesday near a one-month high versus the dollar following a shooting incident near the British Parliament, with a dozen people falling injured, raising tensions in the markets and causing the pound to waver. 

GBP/USD last traded at 1.2478, compared to the opening of 1.2480, with an intraday high at 1.2507, and a low at 1.2423. 

The police shot an attacker today outside the British Parliament where loud noises were heard, with the Police saying it's treating the incident as a terrorist accident until proven otherwise. 

The incident caused tensions in the markets and forced the pound to dither as investors look for alternative investments, after sterling hit a four-week high earlier this session despite dollar's slight recovery against a basket of currencies. 

The pound is still holding on its gains after better than expected inflation data from Britain yesterday, raising expectations for the Bank of England to increase interest rates to arrest inflation before it spirals out, specially after one member already voted for a rate hike in the bank's last meeting.