The dollar rose against major rivals on Wednesday as the markets assess the ongoing US-China trade talks, and before important US inflation data.

The negotiations entered their second day in London as both sides aim to stop the trade war and reach an agreement, after the dispute disrupted supplies of rare-earth minerals and impacted many industries. 

The US Trade Secretary Howard Lutnick said negotiations with China are progressing satisfactorily, expecting talks to continue all day.

Now markets await crucial US consumer prices data on Wednesday, followed by producer prices data on Friday to gather clues on future Fed rate cuts.

On trading, the dollar index rose 0.1% as of 21:06 GMT to 99.04, with a session-high at 99.3, and a low at 98.8.

Loonie 

The Canadian dollar rose 0.2% against its US counterpart as of 21:23 GMT to $0.7312.

Aussie

The Australian dollar rose 0.1% against the US dollar to $0.6523 as of 21:23 GMT.

Oil prices fell on Tuesday as investors continue to assess the ongoing US-China trade talks and ahead of important US crude inventory data. 

The Energy Information Administration today expected US crude output to taper off to 13.3 million bpd in 2026, down from a record 13.5 million bpd in the second quarter. 

It expects Brent prices to average $61 by the end of the year, before hitting $59 a barrel in 2026.

On trading, Brent August futures fell 0.25%, or 17 cents to $66.87 a barrel.

US crude futures due in July fell 0.47%, or 31 cents to $64.98 a barrel.

US stock indices gained ground on Tuesday amid ongoing US-China trade talks.

The negotiations entered their second day in London as both sides aim to stop the trade war and reach an agreement, after the dispute disrupted supplies of rare-earth minerals and impacted many industries. 

The US Trade Secretary Howard Lutnick said negotiations with China are progressing satisfactorily, expecting talks to continue all day.

Now markets await crucial US consumer prices data on Wednesday, followed by producer prices data on Friday to gather clues on future Fed rate cuts.

On trading, Dow Jones rose 0.1%, or 41 points as of 17:46 GMT to 42,804 points, while S&P 500 added 0.3%, or 18 points to 6024 points, as NASDAQ gained 0.4%, or 70 points to 19,661 points. 

MicroStrategy's Chairman Micheal Saylor announced a new round of bitcoin purchases amounting to 1045 units, raising the company's holdings to a new record high.

The purchase occurred between June 3 and 8, with the company spending $110.17 million in total, averaging $105,426 per unit.

After the new acquisition, the company now holds 582000 bitcoins averaging $70081 per unit, with a total value of $40.79 billion.