Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
The U.S. Treasuries surged during Wednesday’s afternoon session ahead of the country’s medium-term 5-year auction, scheduled to be held today by 17:00GMT, besides, a host of speeches by Federal Open Market Committee (FOMC) members Barkin and Daly, both due today at 16:20GMT and 21:30GMT.
The yield on the benchmark 10-year Treasury yield slumped nearly 2-1/2 basis points to 1.468 percent, the super-long 30-year bond yield plunged 5 basis points to 1.916 percent and the yield on the short-term 2-year slipped 1 basis point to 1.518 percent by 11:20GMT.
Market focus remains on Italian political developments. Italian President Sergio Matarella is scheduled to meet the leaders of the main political parties this afternoon for feedback on their efforts to form a coalition government, Eurobank Economic Analysis & Financial Markets Research reported.
Elsewhere, investors retain a cautious stance against risk assets on market uncertainty over the chance of a meaningful resolution in the US/China trade dispute, major government bonds remain well supported and, in FX markets, the EUR/USD continues to consolidate within the 1.1000-1.1200 recent rage, the report added.
Meanwhile, the S&P 500 Futures traded flat at 2,864.62 by 11:25GMT.
