US dollar jumped on Tuesday to a two-week high against a basket of global currencies to resume its gains, which were temporarily halted yesterday amidst a day of respite, as demand on the US currency renewed as the best investment currently in the foreign exchange market, ahead of Federal Reserve meeting which is expected to provide clear evidence about the prospects for US interest rate cuts this year.

The dollar index rose more than 0.2% to 97.75 points, the highest since June 3, from the opening level of 97.53 points, with the lowest level at 97.37 points.

The index lost about 0.1%, the first loss in four days, amidst a day of respite early in the week.

Over the past week, the dollar index rose by 1.05%, the second weekly gain in the last three weeks, and the biggest weekly gain since March, as demand on the US currency accelerated as the best alternative investment in the foreign exchange market.

On Tuesday, the US dollar saw an accelerated demand as the best investment in the foreign exchange market, especially after negative pressure on major and minor currencies. as well as Euro falling under the pressure from central bank governor Mario Draghi's remarks on expanding stimulus if economic conditions deteriorate more.

Also British pound faces strong prospects of UK secession from the EU without a deal, and the Australian dollar faces the likelihood of Australian interest rates cut this year to counter the slowing economy.

The monetary policy meeting of the US Federal Reserve will begin later today, with its decisions to be released tomorrow, amid full prospects for US interest rates to remain unchanged at 2.50%.

Investors are focusing on monetary policy data and economic forecasts, as well as comments by Federal Reserve Chairman Jerome Powell, on the lookout for new evidence of US interest rate cuts this year.

Silver prices rose on the European market today for the first time in three days, as demand on safe assets renewed, ahead of the Federal Reserve meeting, which is expected to provide clear signals about the possibility of US interest rates cut in the next few months.

As of 12:15 GMT, Silver prices rose more than 0.8% to $14.95 per ounce, from the opening of $14.83, and recorded high of $14.96, and a low $14.81.

Yesterday, the metal lost 0.2%, the second consecutive daily loss, ob correction from a week high at $15.11 per ounce and under the pressure of the US Dollar.

Silver fell 0.9% over the past week, the first weekly loss in a month, on profit-taking activity after prices hit a two-month high of $15.14 per ounce, as well as concerns about actual demand in China, the world's largest metal consumer.

The US Federal Reserve will begin its two-day meeting today to discuss the appropriate monetary policy for the latest developments in the US economy, as its decisions will be released on Wednesday, amid strong expectations of the interest rates remaining unchanged at 2.50%.

The financial markets are eagerly awaiting the meeting as it is expected to provide clear signals about the possibility of cutting US interest rates over the next few months to support the economy in the face of surrounding risks, especially the country's trade wars against several countries.

European shares jumped to their highest level in six weeks in Tuesday morning, making their first gain in the last three sessions, after comments by European Central Bank President, Mario Draghi, in which he promised to provide more stimulus if the economic situation in the eurozone deteriorates more.

Stoxx Europe 600 rose more than 1.2% at 11:29 GMT, its highest level since May 7, while it ended yesterday's session down by 0.1%, the second consecutive daily loss.

Stoxx Europe jumped in Tuesday morning to its highest level in six weeks, making its first gain in the last three sessions, with most major stock exchanges and sectors in the Green Zone.

Mining and basic resources are the top gainers in Europe with a gain of more than 1.5%, with most of the metal prices on the global market rising.

Mario Draghi said at the ECB forum in Sintra, Portugal "If the euro zone economy deteriorates in the coming months, the central bank will announce further stimulus".

"In the absence of improvement, and if kept inflation going far from our target, additional incentives will be needed," Draghi said.

Draghi pointed out that additional incentives may come through lowering interest rates or through assets purchases "public and private bonds".

Euro fell more than 0.3% against US dollar within minutes after the comments, hitting a two-week low of $1.1181.

While S&P 500 futures rose more than 0.5%, as the index ended yesterday's session on Wall Street, up by 0.1%.

Meanwhile, the US Federal Reserve will begin its two-day meeting later today to discuss appropriate monetary policy for the US economy, especially in light of the trade wars that the United States is waging with several countries.

Euro Stoxx 50 index rose by 1.9%. with France's the CAC 40 index rising by 1.4% to top the gainers list in Europe. while in Germany, the DAX rose by 1.2%. and London's FTSE 100 added more than 0.8%.

Gold prices rose in the European market on Tuesday for the first time in three days, getting close to a 14-month high as demand for the precious metal rallied again as a safe haven ahead of the Federal Reserve meeting, which is expected to provide clear evidence of prospects on a US interest rates cut this year.

As of 11:15 GMT, gold prices rose by 0.6% to trade at $1,347.27 per ounce from the opening level of $1,339.78, and recorded a high of $1,348.20 and a low of $1,338.64.

Yesterday, gold prices lost 0.2%, the second consecutive daily loss, on correction and profit taking from a 14-month high of $1,358.14 per ounce.

Gold prices have gained more than 3% since the start of trading this month, thanks to strong investment demand for the precious metal as a safe haven, as well as the possibility of the US Federal Reserve to cut interest rates in the next few months.

The monetary policy meeting of the Federal Reserve will begin later today, with the release of its decisions on Wednesday, amid string prospects for US interest rates to remain unchanged at 2.50% this month.

Investors are focusing on monetary policy data and economic forecasts, as well as comments by Federal Reserve Chairman Jerome Powell, on the lookout for new evidence of US interest rate cuts this year.

These prospects have increased recently due to the high risk surrounding the US economy, which began to be felt during the second quarter of this year. These risks are the upsurge in US trade wars with several countries, led by China, in addition to the weakening of inflation levels in the country.

Gold holdings at the SPDR Gold Trust Fund (The largest gold-backed global index funds) remained unchanged yesterday, with the total trading at 764.1 metric tons, the highest since April 3.