Today is a new trading day. So, there is plenty of fresh news we want to share with you. Now, investors are anticipating inflation data for the eurozone. Many analysts try to guess how the US dollar and the euro may react to a possible surge in inflation. They are also mulling over a likelihood of a decline in the US dollar index in the near future. Interested? Then, let’s get started! Since the start of the Asian session, the US dollar index has reached the resistance level of 96. After that, it began to decline, which was quite predictable. The greenback may fall to 95.5. This value looks like a fair market price. Investors are also waiting for the release of the final euro area annual inflation data for October. Analysts predict that consumer prices are likely to jump to 4.1% from 3.4%. If so, inflation will hit the highest level since 2008. Should this scenario come true, the US dollar may strengthen versus its main rivals. The yen is still losing ground. Yesterday, it dipped slightly against the US dollar, approaching the level of 114.85. Now, there is a high chance of a small correction. However, the quotes are unlikely to decline below 114.60. Analysts are sure of this. Since there is no fundamental reason for the strengthening of the yen, the US dollar will extend gains. The dollar/yen pair may keep rising until the end of the week. The Aussie dropped to a new low during the Asian session but then slightly rebounded. This price movement will hardly surprise traders as the pair has been overbought for several days. The trend reversal is yet to occur. The pair may drop to the support level of 0.7225. However, after that, analysts expect a rebound. So, the Australian dollar is likely to start rising, partially recouping its losses. That’s all for now! Do not miss our next video review! See you!

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