On Friday, the Greenback declined after Fed Chair Janet Yellen's two-day testimony to Congress. Meanwhile, investors remained cautious ahead of U.S. inflation data, which will be released later on today. Traders are awaiting US inflation indicators for June, the Greenback could be supported vs. its rivals if the consumer price index (CMP) comes out better than expected (+ 0.1% in June and + 1.7% in annual terms).
At the beginning of the European session, the single was little changed to settle at $1.1407, with the European Central Bank anticipated to announce plans for tapering asset purchases in September.
Gold prices settled at the beginning of the day as dollar changed ahead of key U.S. economic data and as global stocks gain on upbeat data, but the yellow metal still on track for its first weekly gain in three weeks. Spot gold surged by 0.1%, to settle at $1,218.18 at 06:46 GMT. Prices were up 0.4% for the week so far, which could be its biggest weekly gain for about three weeks. On the other hand, U.S. gold futures for August delivery declined by 0.02% to $1,217.00.
Also on Friday, Oil prices fell, negatively affected by improving industry efficiency and high fuel stocks, but prices were still on track for a solid weekly profit. U.S. WTI crude futures fell as much as 0.2% or 11 cents to settle at $45.97, but up around 4% over the week, while Brent crude futures were down by 0.1% to settle at $48.35, but up 3.5% for the week
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