Core Insights - The U.S. CPI inflation report is expected to have a more significant impact on the euro-dollar exchange rate than the European Central Bank's (ECB) decision on interest rates [1][2] Group 1: U.S. CPI Inflation Report - The U.S. CPI inflation report is scheduled for release at 8:30 a.m. Eastern time and is anticipated to influence foreign exchange markets, particularly the euro-dollar exchange rate [1] - TD Securities strategists express caution regarding potential dollar strength if the inflation report indicates a stronger performance and signs of inflation passthrough [2] Group 2: European Central Bank (ECB) Outlook - The ECB is expected to maintain the deposit rate at 2.0%, as widely anticipated, while acknowledging reduced uncertainty following the U.S.-EU trade agreement [2] - The ECB is likely to continue a meeting-by-meeting, data-dependent approach for future monetary policy decisions [2]