Today is a weekend in both Europe and the United States. That is why the market activity is very low. Nevertheless, the week is expected to be rich in events. It is highly possible that the US dollar will be gaining in value for the better part of the week.A rise in the greenback could be boosted by the eurozone inflation figures. The consumer price growth is expected to slacken. That is why most traders may assume that the European Central Bank will stop the cycle of monetary policy tightening in the near future.However, by the end of the trading week, the market is likely to return to its current position. Since the US dollar is considerably overbought, the euro and the pound sterling may exceed the existing levels.Such a jump could be explained by the expected US Labor Department report. The fact is that the forecasts are absolutely negative. The unemployment rate may advance, whereas the number of new jobs in the non-farm sector will hardly be enough to support the labor market stability. In other words, unemployment will rise higher.On the trading chart, we see that the euro reached 1.0700 against the US dollar. As a result, traders stopped selling the asset. The downward cycle slackened and the pair rebounded and stagnated. It is quite possible that the stagnation will force traders to reconsider the situation, which may boost the single currency. If the quote consolidates above 1.0755, traders will get a technical signal of the price recovery. In this light, the euro may climb to 1.0800.Traders also consider the downward scenario, which suggests the continuation of the downward correction. Once the price settles below 1.0700, traders will get a signal of a deeper decline in the pair.Meanwhile, the pound sterling started falling slower against the US dollar after it hit the level of 1.2350. As a result, the volume of short positions dropped and the pair rebounded and then stagnated near the control level. It is quite possible that the stagnation near the level of 1.2350 will remain in force in the near future since big traders left the market for the weekend. The stagnation could be defined as consolidation, which will lead to the accumulation process and speculative changes in the price.

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00:00 INTRO
00:21 ECB KEY INTEREST RATE
00:42 QUOTES
00:58 USA
01:24 EUR | USD
02:22 GBP | USD