At 13:30 GMT, the US economy released it reading for the CPI, which rose by 0.2% monthly in December, in line with forecasts, but lower than the previous reading of 0.3%. 

The core CPI reading (excluding food and fuel prices) rose by 0.1%, lower than the previous reading and forecasts of 0.2%. This data is considered negative for the US dollar.

Nickel prices edged higher today, buoyed by Indonesia's reveal of production plans to exploit its domestic nickel ore inventories.

Indonesia unveiled its plan to ban exports of nickel ore starting in January, which is aimed at increasing its stockpiles of the metal and exploiting it in local industries, especially steel.

The Indonesian government also aims to ban exports of all ore metals to spurr the local industries.

Jakarta stated that it plans to build at least five factories to manufacture batteries using nickel and other metals to meet the increasing demand of the electric vehicle manufacturers.

This plans may lead to nickel supply shortages in global markets, which has recently lifted prices higher.

Nickel spot futures rose by 1.3% to $13,865.6 per tonne as of 14:43 GMT, after rising by 1.5% to today's high above the $14,000 barrier.

The US dollar rose on Tuesday, to extend its gains for the second straight day, near touching its 2-week high, as investors continued to focus on high-yield currencies, ahead of key US data releases on inflation levels for December.

The dollar index rose more than 0.1% to 97.47 points, after it opened at 97.36, and hit a day low of 97.35.

The greenback gained less than 0.1% yesterday, to mark its fourth daily gain in the past 5 days, on positive developments on the US-China trade file.

The US dollar rose to 2-week high of 97.58 on Friday, on improved risk-appetite, as concerns about the geopolitical tensions in the Middle East receded, and the US and China getting near to the signing of their initial trade pact.

A Chinese trade delegation headed by Vice Premier Liu He have arrived in Washington today, to sign the phase-one trade deal on Wednesday at the White House with President Donald Trump's administration.

The US Treasury Department on Monday removed its designation of China as a currency manipulator, in the latest positive measures.

Investors are anticipating the release of important US data today, on the US consumer prices index.

The US CPI reading for December will be released at 13:30 GMT, with forecasts for the annual reading to rise by 2.3% vs. 2.1% in November, and the monthly reading to rise by 0.2% vs. 0.3%.

US stocks fell in early trading today, as focus shifted to the signing of the initial trade pact between the US and China, and the quarterly earning reports season kicking of for Q4 2019.

The signing of the phase-one trade deal between the US and China tomorrow at the White House,  in the presence of the Chinese Vice Premier and US President Donald Trump.

US data revealed today that the CPI fell by 0.2% last month, which was widely expected.

The quarterly earning reports season started today, and as usual, the American banks kicked off the reports, with JPMorgan Chase, Wells Fargo and Citigroup.

Dow Jones rose by less than 0.1% or 10 points to 28,918 as of 15:08 GMT, while Nasdaq fell by 0.2% or 20 points to 9,254,  and S&P 500 fell by 0.3% or 9 points to 3,279.