Platinum rises for fourth straight session, dollar off five-week high
Platinum prices tilted higher in Asian trade to June 10 highs as the dollar index backed off June 2 highs for the fifth session out of seven, as Covid 19 cases continue to surge in North and South America.
As of 05:44 GMT, platinum prices rose 0.43% to $843.40 an ounce, while the dollar index inched down 0.01% to 96.94.
The World Health Organization warned the rate of Covid 19 spread has increased recently, warning the peak hasn't been reached yet.
The WHO experts said the current gap between high new infections and slower death could be bridged in a few weeks, with the total death toll standing currently at 535,000.
As Covid cases spike in South America, Brazilian president Bolsonaro announced he tested positive for the virus after months of downplaying the issue.
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USD/JPY gains ground for second session
USD/JPY tilted higher in Asian trade following earlier trade data and amid a lack thereof from the US, as Covid 19 cases continue to surge in North and South America.
As of 06:04 GMT, USD/JPY rose 0.02% to 107.54, with a session-high at 107.71.
Earlier Japanese data showed current account surplus up to 0.82 trillion yen from 0.26 trillion in April, while bank lending rose 6.2% in May, up from 4.8% in April.
The Japanese government released the index on current conditions, up to 38.8 from 15.5, while the future conditions index rose to 44.0 from 36.5.
Japan's economy minister said the government has agreed with experts it's time to lift more restrictions put in place to control Covid 19 by July 10 while taking necessary precautions to prevent another wave.
The World Health Organization warned the rate of Covid 19 spread has increased recently, warning the peak hasn't been reached yet.
The WHO experts said the current gap between high new infections and slower death could be bridged in a few weeks, with the total death toll standing currently at 535,000.
As Covid cases spike in South America, Brazilian president Bolsonaro announced he tested positive for the virus after months of downplaying the issue.
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Silver ends higher, surge closer to $19 barrier
Silver futures rose Tuesday, despite the US dollar's slight rise against most currencies, but investors focused on the latest developments in the coronavirus crisis.
Several US Fed officials have warned from the coronavirus impact on the US economy, which raised uncertainty about economic recovery from the pandemic.
FOMC member Loretta Mester said the US economy still needs more support from Congress and the federal government.
This came despite data showing a strong rise in the employment rate during May, as the economy has added 4.8 million new jobs in June, and unemployment fell to 11.1%.
The dollar index rose against a basket of currencies by 0.1% to 96.8 points as of 22:05 GMT, after it hit a high of 97.1 and a low of 96.6.
Silver September futures rose 0.6% to close at $18.699 an ounce, after hitting a day high of $18.75 and a low of $18.605.
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API: US oil inventories rise unexpectedly
The American Petroleum Institute (API) revealed today in preliminary data that the US crude inventories rose by about 2.048 million barrels during the past week, higher than expectations of a drop by 3.7 million barrels.
The gasoline inventories fell by 1.8 million barrels, and the distillate inventories fell by 847,000 barrels during the same period.
While the Energy Information Administration (EIA) will release the official data on Wednesday, which have a significant impact on oil prices movement.
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