Headlines:UK headline inflation picks up in July, core prices hold steadyEuro area inflation confirmed to nudge up a little in JulyFOMC meeting minutes in focus in the day aheadECB policymaker Rehn says no clear signs of second-round effects just yetBitcoin Price Analysis: The Critical Crypto Chart Between $64K and $65KMarkets:WTI crude oil +0.8% to $85.60Gold +0.8% to $4,369JPY leads, AUD lags on the dayEuropean equities little changed; S&P 500 futures flatUS 10-year yields down 1 bps to 4.696%Bitcoin down 0.1% to $64,459It was a quieter session as markets continue to move along, still awaiting on how things will play out in the Middle East.US-Iran tensions continue to linger and that's keeping the broader market mood and outlook on edge, in waiting on whether the conflict will escalate further or if there will be any positive signals.For now, the status quo continues to complicate things as we see some mixed market moves on the day. Oil prices are holding higher with WTI crude up 0.8% to $85.60 and Brent crude up 0.7% to $91.63.Meanwhile, the dollar is seen on the softer side again in European morning trade as bond yields fall off slightly too. EUR/USD is up 0.2% to 1.1600 and USD/JPY down 0.3% to 159.15 on the day. That comes as 10-year Treasury yields are down another 1 bps to 4.696% after the overnight fall.In terms of economic releases, we did get UK inflation data for July. And that is seen holding a little higher than estimated, which keeps the door open for a BOE rate hike by year-end. GBP/USD is up 0.1% to 1.3547, not all too much higher from before the data release.In other markets, equities remain more tepid with European indices keeping little changed for the most part. And after some pressure on Wall Street yesterday and a continued selloff in Asia today, US futures are keeping lightly changed for now. But as we get to the open later, tech shares will once again come under scrutiny - especially semiconductors. So, keep an eye out for that. This article was written by Justin Low at investinglive.com.