US dollar stabilized during today's trading after news agencies pointed out that the United States intends to postpone imposing tariffs on its cars imports for six months.

In addition, US Treasury Secretary Steven Mnuchin told at Senate hearing that trade negotiations with China were constructive and he would travel to Beijing soon to resume talks.

On the other hand, Mnuchin noted that America is negotiating to resolve trade disputes, adding that the problem of resolving the tariffs problem on steel with Canada and Mexico is on its way to be resolved.

US retail sales fell 0.2% last month, in line with analysts expectations of the same rate.

In terms of trading, the dollar index (against a number of major currencies) stabilized at 97.3 points as of 18:03 GMT, reaching a high of 97.7 points and a low of 97.4 points.

Gold prices rose slightly during today as US dollar stabilized against most major currencies and stock markets rallied for a second day following comments from the US administration that eased the trade war fears.

US President Donald Trump said yesterday that his administration may cancel tariffs against China, but that decision will depend on the outcome of the negotiations.

On the other hand, sources told CNBC today, that the White House plans to postpone the decision to impose tariffs on US imports of cars for six months.

Meanwhile, the dollar index (against a number of major currencies) stabilized by 97.5 points as of 18:23 GMT, reaching a high of 97.7 points and a low of 97.4 points.

Gold futures (June delivery) rose 0.1% to close at $1297.8 an ounce. The precious metal hit a high of $1301.7 and a low of $1293.6.

Canadian dollar rose against most of its major counterparts on Wednesday, buoyed by optimism about the trade dispute between Washington and Beijing, despite weak Canadian economic data.

Government data showed that Canada's consumer price index stabilized at 1.4% last month unchanged, and the common CPI stabilized at 1.8%.

Sources told CNBC today, that the White House plans to postpone the decision to impose tariffs on US imports of cars for six months.

This comes in fear of worsening problems and damage to the economy and consumers in the United States in conjunction with the escalation of the trade war with China.

US President Donald Trump said his administration did not care much about the trade dispute with China, adding that customs tariffs can be canceled once an agreement is reached with Beijing.

In terms of trading, by 15:59 GMT, CAD/USD rose by 0.2% to 0.7444, and hit a high of 0.7449 and the lowest at 0.7406.

Oil prices rose during today's trading, to offset earlier losses, despite the larger-than-expected rise in the US crude inventories.

The International Energy Agency (IEA) has warned of a drop in the global supply of crude, which could push OPEC and its allies to increase production at the June meeting.

The Energy Information Administration (EIA) announced a rise in oil inventories in the United States by about 5.4 million barrels last week, while analysts expected a decline by three million barrels.

Markets are still trying to absorb the shock of the mutual tariff increases between the United States and China and its impact on commodities.

In terms of trading, by 16:08 GMT, West Texas rose 0.6% to $62.1 a barrel, the highest price of the day at $62.3 and the lowest at $60.8.

Brent rose 1.3% to $72.1 a barrel, as the crude hit a high of $72.2 and a low of $70.4.