Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Gold Price Holds Near $4,400 as Hormuz Risks and CPI Drive Markets 
Canada-US Trade Talks Gain Momentum Ahead of Aug. 19 Tariff Deadline 
Australia Sets New Minimum Pay, Insurance Rules for Gig Workers 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Canada, US Hold Fresh Trade Talks as August 19 Tariff Deadline Nears 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Oil Prices Rise as Hormuz Tensions Threaten Global Supply 
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The U.S. Treasuries gained Thursday, following steep losses witnessed in global benchmark energy prices after Saudi Arabia hurdled in the wake of too deeper oil production cuts in the near term. Also, the slightly less hawkish-than-expected tone of the minutes from May’s FOMC policy meeting added to the downward sentiment in bond yields.
The yield on the benchmark 10-year Treasury, slipped nearly 1 basis point to 2.27 percent, the super-long 30-year bond yields fell 1 basis point to 2.93 percent and the yield on short-term 2-year note traded 1/2 basis point lower at 1.32 percent by 11:40GMT.
Oil prices witnessed decline after Saudi Arabia failed to agree on deeper production cuts in the coming months, although the members of the OPEC decided to extend the output cut deal for further nine months until March next year. However, markets are now awaiting the turn of non-OPEC members to attend the meeting in the latter half of the day.
The UK gilts have been closely following developments in oil markets because of their impact on inflation expectations. The International benchmark Brent futures fell 0.02 percent to USD53.94 and West Texas Intermediate (WTI) fell 0.27 percent to USD51.22 by 09:20 GMT.
Lastly, in the FOMC meeting minutes, released last night, "most" FOMC participants considered that an additional rate hike soon "would be appropriate". However, they adopted a rather cautious stance judging that "it would be prudent to await additional evidence" indicating that the weak Q1 GDP print and the soft March inflation data had been transitory before taking another step in removing monetary policy accommodation.
Meanwhile, the S&P 500 Futures traded 0.27 percent higher at 2,408.50 by 11:10GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -3.94 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
