West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $66.53 per barrel, down from Wednesday’s close at $67.20.
Gold prices posted modest gains of over 0.22% on Wednesday as the latest inflation report in the United States (US) revealed that prices are cooling. Hence, investors increased their bets that the Federal Reserve (Fed) would resume its easing cycle in September. The XAU/USD trades at $3,327.
This week’s moves are almost entirely driven by US-related events. The only Euro input comes from scheduled ECB speeches, which so far have reinforced the less dovish tone set by President Christine Lagarde last week, ING's FX analyst Francesco Pesole notes.