The US dollar fell against a basket of global currencies on Tuesday, to deepen its losses for the second straight day, as investors avoided high-yielding risky assets, as the US date for imposing tariffs on Chinese imports is approaching without reaching any tangible results in the trade talks to complete the phase one of the trade deal, and ahead of the US Fed monetary policy meeting, which will be the last during this year. 

The dollar index fell 0.15% to 97.50 points, after it opened at 97.65, an hit an intraday high of 97.66.

The index lost 0.1% yesterday, to resume its losses, after they were temporarily paused on Friday on a strong US jobs data, to hit again the seventh loss in the last 8 days.

 Market's fears over the US-China trade war were renewed as the US date for imposing tariffs on Chinese imports worth $156 billion is approaching without reaching any tangible results in the trade talks to complete the phase one of the trade deal.

The US secretary of agriculture Sonny Perdue said on Tuesday, " President Trump wants to see progress ahead of the deadline coming up on the Dec.15 for another tranche of tariffs."

The last Federal Reserve's meeting  during 2019 will launch later today, and the decisions will be unveiled tomorrow, amid increased market's bets for the Fed to hold interest rates unchanged at 1.75%, and settle for the three rate cuts during this year.

Investors are also anticipating the monetary policy statement and the remarks of Fed Chair Jerome Powell, for insight o the future of interest rates in the next year.

Oil prices turned lower as the US market opened on Tuesday, to deepen losses for second straight day on profit-taking activity, in addition to renewed trade fears as the US date for imposing tariffs on Chinese imports is approaching, while these losses are ebbed by prospects for the US crude inventories to fall for the second straight week.

West Texas Intermediate (WTI) fell to $58.54, after opening at $58.87, with a session-high of $59.38, and Brent fell to $63.80 a barrel, after opening at $64.05, with a high of $64.68.

WTI closed lower by 0.4% on Monday, iits first loss in the last 6 days, on profit taking 3-month high of $59.81 hit on Friday, and Brent crude futures fell by around 0.4%, after posted the highest since Sept.23 of $64.86 on Friday.

During the last week, oil prices gained 6.5%, their fourth straight weekly gain and the largest weekly since mid-September, after the new OPEC agreement and a surprise drop in US crude inventories.

Market's fears over the US-China trade war were renewed as the US date for imposing tariffs on Chinese imports worth $156 billion is approaching without reaching any tangible results in the trade talks to complete the phase one of the trade deal.

The American Petroleum Institute (API) will release preliminary data on the US crude inventories later today, with forecasts to decline for the second straight week, while the US Energy Information Administration (EIA) will reveal the official data tomorrow.

European stocks fell on morning sessions on Tuesday, to deepen losses for second straight day, on risk-off move as the US date for imposing tariffs on Chinese imports worth $156 billion is approaching without any reaching any tangible results in the trade talks to complete the phase one of the trade deal.

Stoxx Europe 600 fell by 1.1% as of 11:40 GMT, as it closed lower by 0.2% yesterday, after the release of weak Chinese data about exports during November. 

The index opened today's session lower, to continue, to extend its losses for second straight day, as most of the major European exchanges and sectors fell today.

The technology sector saw the largest losses in Europe today, with a drop by 1.7%, followed by the automotive sector with a drop by 1.6%, as the two sectors are the the most sensitive to global trade news.

The US secretary of agriculture Sonny Perdue said on Tuesday, "We have a deadline coming up on the Dec.15 for another tranche of tariffs, I do not believe those will be implemented and I think we may see some backing away."

The ongoing trade talks between the US and China so far have not resulted in tangible results on the main points of dispute, which block the way for completing the phase one of the comprehensive trade deal.

S&P 500 futures fell by 0.4% today, while it closed lower by 0.3% yesterday at Wall Street, its fist daily loss in 4 days, after weak Chinese exports data renewed investors' concerns.

Back to Europe, the Euro Stoxx 50 index fell by 1.2%, the German DAX lost 1.5%, France's CAC 40 fell by 0.9%, and in London, the FTSE 100 lost 1.1%. 

Gold prices rose during the European session on Tuesday, to extend gains for the second straight dayو on the US dollar drop against a basket of currencies, and ahead of the US Fed monetary policy meeting, which will be the last during this year. 

Gold prices rose by 0.3% to $1,465.60, after opening at $1,461.79, and hit a session-low of $1,460.04.

The yellow metal gained 0.2% yesterday, to recover some of previous losses hit on Friday after upbeat jobs data in the US.

The US dollar index fell by 0.15% against its rivals, to deepen its losses for second straight day, as sell-off continued on the US currency, which comes in favour of dollar-denominated metals.

This drop in US dollar is due to investors' risk aversion after the release of weak Chinese data and the lingering uncertainty about the US-China trade talks while the date of the US tariffs decision approaches on $156 billion worth of Chinese goods, which is due Dec.15.

The last Federal Reserve's meeting  during 2019 will launch later today, and the decisions will be unveiled tomorrow, amid increased market's bets for the Fed to hold interest rates unchanged at 1.75%, and settle for the three rate cuts during this year.

Investors are also anticipating the monetary policy statement and the remarks of Fed Chair Jerome Powell, for insight o the future of interest rates in the next year.

Gold holdings at the SPDR Gold Trust Fund, remained unchanged yesterday, with a total of 886.23 mt (the lowest since Sept.18).