The primary currency pair is poised for growth on Tuesday. The current EURUSD exchange rate stands at 1.0934.
Investors are focused ahead of this week's release of the most crucial statistics. The first of these – the US inflation reports for February – are scheduled for release today.
The Consumer Price Index (CPI) may have increased by 0.4% m/m, up from January's 0.3%. Year-on-year, February inflation is expected to remain at 3.1%, as previously forecasted.
The second set of crucial releases is scheduled for Thursday. These will include the US weekly jobless claims report, retail sales in February, and the Producer Price Index (PPI) for inventories. The industrial production report for the previous month and the Consumer Sentiment Index by the University of Michigan will be released on Friday.
In the meantime, the US Federal Reserve has entered a silent period, which is necessary ahead of the regulator's next meeting, scheduled for 19-20 March.