The US dollar rose against most currencies on Friday, to snap a 2-day rally amid a thaw in global markets after the US and China signed the Phase-One trade deal.

The US Vice President, Mike Pence, announced the launch of the trade talks for the Phase-Tow of the trade pact with Beijing.

Data showed today that housing starts and building permits in the US housing market rose in December.

The market will eye President Trump's impeachment trial before the US Senate next week.

Democrats in the House of Representatives voted on accusing President Trump of misusing his powers obstructing the US Congress, which may lead to his removal.

The dollar index rose against a basket of major currencies by 0.3% to 97.6 points as of 19:09 GMT, after hitting a day high of 97.6 and a low of 97.2.

Silver prices rose on Friday, shaking off a robust US dollar and a surge in the US stock market, amid widespread optimism about the initial trade deal with China, but silver posted a weekly loss.

During this week precious metals, including silver, came under the pressure strong market sentiment that followed the US President "Donald Trump" and Chinese Vice Premier "Liu He" signing on the phase-one of the trade agreement.

Trade tensions and escalation between the world's two largest economies that took almost 18 months eased after the signing, which was reflected on stock markets jump to fresh all-time highs.

The dollar index rose against a basket of major currencies by 0.3% to 97.6 points as of 20:38 GMT, after hitting a day high of 97.6 and a low of 97.2.

Silver futures for March delivery rose by 0.8% to close at $18.073 an ounce, but posted 0.2% weekly loss, with today's high at $18.185 and a low of $17.905.

Gold prices rose today, shrugging off the US dollar 2-day rally against its major rivals, and posted weekly gains, albeit modest.

President Donald Trump signed on Wednesday the phase-one of the trade deal with China, in the presence of a number of high-level personals from both countries at the White House.

The signing of the initial trade pact marked the end for the 18-month old tensions and trade escalation between the world's two largest economies.

The dollar index rose against a basket of major currencies by 0.3% to 97.6 points as of 19:30 GMT, after hitting a day high of 97.6 and a low of 97.2.

Gold futures for February delivery rose by 0.6% or $9.80 to close at $1,560.30 an ounce, posted less than 0.1% weekly gain, with today's high at $1,561.4 and the low at $1,549.3.

Oil prices rose in European trade on Friday, gearing up for the second straight daily gain, as recovery of a 6-week low continues, lifted by upbeat forecasts about China's demand, after the Chinese factory production surged in December.

The US crude rose to $58.73 a barrel, after it opened at $58.56, and hit a session-low of $58.45, and Brent crude rose to $64.88, after opening at $64.65, and hit a low of $64.50.

US crude prices gained 0.9% yesterday, after hitting a six-week low at $57.40 on Wednesday, Brent crude futures gained 0.6%, after slumping to the lowest since December 11 at $63.58.

China revealed today that its industrial production rose by 6.9% in December, its highest pace since March 2019, higher than forecasts of 5.9%, and higher than November's reading of 6.2%.

China's factories production surged after a thaw in its trade tensions with the US that led to signing a trade pact, and consequently improved domestic and foreign demand.

During the trade war between the world's two largest economies, the Chinese economy grew in 2019 by 6.1%, at the lowest pace in 29 years, but growth is expected to improve during 2020, especially after the trade deal was officially signed this week in Washington.

US President Donald Trump and Chinese Vice Premier Liu He signed the phase one of the trade deal on Wednesday, marking the end of the 18-month old trade war that has weighed down on global demand for oil.

The phase-one deal includes China's pledge to purchase more than $50 billion in US oil, liquefied natural gas and other energy products over two years.