Coffee prices tilt lower in American trade
Coffee futures tilted lower in American trade as the dollar index edged higher according to their inverse relation, which follows a basket of data form the U.S., the world's largest economy.
As of 08:41 GMT, coffee futures due on March 16 shed 0.19% to $166.46 a pound from the opening of $166.77, with a session-low at $166.31, and a high at $167.08, while the dollar index added 0.08% to 101.17 from the opening of 101.12.
Earlier U.S. data showed durable goods orders rose 1.8% in January, besting expectations of 1.6%, and compared to December's 0.5% fall, revised lower from minus 0.4%.
Core orders, which exclude transportation, fell 0.2%, missing expectations of a 0.5% rise, and compared to December's 0.9% rise.
Finally, pending home sales fell 2.8% in January, missing expectations of a 1.1% rise, and compared to December's 1.6% rise.
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Silver sets new highs as dollar sharpens decline
Silver prices rose on Monday to a 15-week high as the dollar kept falling against a basket of currencies, underpinning silver and other commodities according to their inverse relation with the greenback.
Silver last traded at $18.39 an ounce, up from the opening of $18.34, with an intraday high at $18.47, and a low at $18.29.
Silver's rise comes as the dollar deepens its losses versus main rivals as markets await U.S. president Donald Trump's speech ahead of Congress, at which he might reveal his tax reform plans and other initiatives.
Silver on the other hand drew support from gold's steadiness as demand climbs on safe havens amid political uncertainties in the Eurozone, underpinning demand on gold and silver.
The dollar index, tracking the greenback against a basket of currencies, fell to 100.83 from the opening of 101.27, with a session-high at 101.28, and a low at 100.70.
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Crude prices trim gains amid oversupply concerns
Crude prices rose on Monday before trimming the gains amid concerns about the rising U.S. crude inventories and their negative impact on prices.
U.S. crude futures last traded at $54.19 a barrel, up from the opening of $54.02, with a session-high at $54.57, and a low at $53.92.
Crude prices rose today on the back of output cuts by OPEC and Russia, while opening the door for more cuts if needed to ensure restored balance in the markets.
On the other hand, dollar's current drop against a basket of rivals buoyed the greenback-denominated crude futures, with prices resuming their advance this week after a painful hiatus.
Crude prices however trimmed their gains on concerns about rising U.S. crude stocks, which would render OPEC's output cuts ineffective, if they continued to accumulate the crude unabated.
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Sterling rebounds after a negative start
Sterling rebounded on Monday after tumbling at the open to a one-week low, as the dollar gave up ground against main rivals, underpinning the pound.
GBP/USD last traded at 1.2463, up from the opening of 1.2401, with a session-high at 1.2477, and a low at 1.2385.
Sterling's current rise comes after the dollar fell against main currencies ahead of U.S. president Donald Trump's speech ahead of Congress, at which he might unveil his tax reform plans.
The pound fell earlier in the session amid concerns about a second Scottish independence referendum that would roil the markets and add to Brexit concerns.
The pound has been moving in a tight range for a few weeks now, with expectations of sharp turns after Trump's congress speech oh Fed Chair Yellen's speech on Friday.
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