US Dollar maintains its Monday advance as a first step toward recouping its losses from the previous week.

The US Dollar (USD) is trading largely flat on Tuesday. But the quote board paints a totally different image when compared the Greenback’s performance against its particular counterparts. All losses are minor ahead of the US Consumer Price Index data. Which will be announced later today. Traders will use the figures to shape predictions about whether the Federal Reserve (Fed) will begin decreasing interest rates in May. Or in June.

This Tuesday, all eyes will be on the announcement of the US CPI for February.

The US Consumer Price Index (CPI) will be the focus of this Tuesday. Monthly headline inflation is predicted to be 0.4%, with estimates ranging from 0.3% to 0.5%. The monthly core inflation rate, excluding the more volatile food and energy categories, is predicted to be 0.3%, with predictions ranging from 0.2% to 0.4%.

Moreover If one or both measurements exceed the highest estimate, expect a surge in US dollar strength. In the opposite direction, US Dollar depreciation will be evident across the board if both metrics snap the lowest estimate and come out substantially lower than anticipated.

Daily Market movers: Trying to time the Fed cut. The US Dollar Index is trading slightly around 103.00, toying with a break over this crucial level.

NFIB Business Optimism Index for February was already released about 10:00 GMT. The previous number was 89.9, and the February number is xxx (filled in when released).
Furthermore The Consumer Price Index for February will be revealed at 12:30 GMT.
The monthly headline CPI is predicted to rise to 0.4% from 0.3% last month.
Annual headline CPI is expected to remain unchanged at 3.1%.
Monthly core CPI is expected to rise from 0.4% to 0.3%.
Yearly Core CPI should fall from 3.9% to 3.7%.
At 17:00 GMT, the US Treasury Department will go to market to issue a 10-year note.
Moreover Equities are trending downwards, with one notable outlier: The Chinese Hang Seng Index has risen by more than 3% as it approaches the closing bell. US equity futures are in. The green ahead of the CPI reading, up 0.5%.
According to the CME Group’s FedWatch Tool, there is a 97% chance of a Fed pause at the March 20 meeting, with 3% chance of a rate drop.
Furthermore the benchmark 10-year US Treasury Note now trades at roughly 4.09%, but might go below 4.00% if inflation falls significantly.