It shouldn't be too difficult to identify today's key development for the currency market: New US inflation figures are in the spotlight. The economists of Commerzbank analyze the prospects for the Dollar before the publication of the Consumer Price Index (CPI).
US inflation figures likely to provide support for hawkish voices at FOMC
I would still be a little cautious about following the recent weakness of the Dollar too much. After all, we have seen the first cracks in the history of America's soft landing. And that undoubtedly justifies some weakness in the Dollar. Ultimately, however, the Fed is likely to get carried away by inflation. AND Today's numbers are likely to support the hawks at the Federal Open Market Committee (FOMC).
If today's numbers come back strong, the market could dial back its rate cut expectations a bit. The dollar should benefit from it.
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.