At 13:30 GMT, he US economy released its reading for the housing starts in October, at 1.31 million, slightly less than forecasts of 1.32 million, but better than the previous reading revised to 1.27 million from 1.26 million. This data is positive for the US economy.

At 13:30 GMT, the US economy released the building permits reading for October, at 1.46 million, higher than forecasts and the previous reading of 1.39 million. This data is positive for the US economy.

The British pound rose against most major currencies on Tuesday, to maintain its gains against the US dollar for the fifth straight day near the 4-week high it hit yesterday, buoyed by positive developments about the UK parliamentary elections set for next month.

GBP/USD rose by 0.2% to 1.2969, after opening at 1.2948 the pair hit an intraday low of 1.2942.

Sterling gained 0.4% against the dollar yesterday, its fourth daily gain and hit a 4-week high of 1.2985, buoyed by continued pullbacks in the US dollar along with positive comments by British PM Boris Johnson.

The dollar index fell less than 0.1% today, to deepen its losses for the fourth straight day, amid conflicting news about the US-China trade talks.

British Prime Minister Boris Johnson said yesterday that every Conservative Party's parliamentary candidates in the December 12 election have signed a pledge to vote for his deal with the EU for the UK's exit.

An election poll by "Good Morning Britain" showed on Monday the Tory Party leading ahead of the Labour Party by 14 points.

Prospects for the Conservative Party bagging a majority of parliamentary seats boost hopes that Johnson's Brexit deal will be implemented ahead of its deadline at January 31.

Oil prices deepened their decline as the US market opened on Tuesday, continuing for the second straight day, as doubts about the US-China trade talks ebbed the market sentiment, in addition to expectations for a surge in the US crude inventories later today in the American Petroleum Institute (API) preliminary report.

West Texas Intermediate (WTI) fell to $56.17, after opening at $56.85, and hit a session-high $57.10, and Brent fell to $61.60 a barrel, after opening at $62.22, with a high of $62.55.

WTI closed lower by 1.6% on Monday, on profit taking from a 2-month high of $58.05, and Brent futures fell by 1.9% after hitting the highest since September 24 at $63.62.

CNBC quoted a Chinese government source on Monday that the mood in Beijing about a trade deal is pessimistic as Chinese officials are concerned over President Donald Trump denying agreeing to roll back tariffs.

The long-running trade dispute between the world's two largest economies has negatively affected the global demand outlook in addition to bleak expectations.

The American Petroleum Institute (API) will release preliminary data on the US crude inventories later today, with forecasts for a rise by 1.2 million barrels, while the US Energy Information Administration (EIA) will reveal the official data tomorrow, with forecasts to rise for the fourth straight week.