At 10:00 GMT, the Eurozone economy released the ZEW economic sentiment index for Europe during December at 11.2 points, which is the first positive reading in 8 months and the highest since March 2018, higher than forecasts of 2.2, and higher than the previous reading of -1.0. This data is positive for the European currency (Euro).

Wheat prices held steady on Tuesday, after the release of the USDA report, in which the department lowered its forecasts for ending stocks in the 2019/2020 season by about 40 million bushels to a total of 974 million bushels (5-year low.)

The US Department of Agriculture lowered its wheat import expectations by 15 million bushels to 105 million bushels during the same season (9-year low.)

Trades at the Chicago Commodity Exchange are anticipating the new USDA estimates for weather effects on expected wheat and corn yields and on crop quality by next January

Wheat futures (March delivery) rose by nearly 0.1% or 2 cents to close at $5.23 a bushel, and hit an intraday high of $5.28 and a low of $5.19.

The British pound rose today against the US dollar, as focus shifted to the United Kingdom's early general election on Thursday, December 12.

Most prospects indicates that the Conservative Party led by British Prime Minister Boris Johnson will win the parliamentary majority, which paves the way for the UK's exit from the EU by the end of next January.

The recent opinion polls point out the "Tories" enjoy a lead over Jeremy Corbyn's Labour party in the snap election, which in this case will allow Johnson and his government to implement the Brexit and end the divorce fight that has been casting its shadows over the British scene since mid-2016, when London held a historic referendum that resulted in the majority voting in favour of leaving the EU.

The British economy revealed today that manufacturing production rose by 0.2% in November, while the industrial production fell by 0.1% in the same month.

As for trading, GBP/USD rose by 0.4% to 1.3194 as of 20:29 GMT, the pair hit a high of 1.3216 and a low of 1.3133.

The US dollar fell against most major currencies today, amid the lingering uncertainty about the US-China trade talks and broad anticipation for the Federal Reserve's monetary policy decision tomorrow.

News sources said that the US and China are close to delaying the next tariffs hike, which is due Dec.15, in efforts to give the opportunity for more talks to pave the way for signing the phase one of the trade deal.

The US Federal Reserve began its monthly monetary policy today and will unveil its interest rate decision on Wednesday.

Most forecasts are for holding the rates unchanged within the bank's assessment and evaluation of the three cuts that were delivered during this year, which are based on the Fed Chief Jerome Powell's previous remarks and hints.

The dollar index fell against a basket of major currencies by 0.2% to 97.4 points as of 19:21 GMT, and hit an intraday high of 97.6 a low of 97.4.