The US Dollar Index (DXY) is defending the 102.00 support ahead of the US Consumer Price Index (CPI) data. As per the consensus, the headline inflation will soften to 5.2% from the former release of 6.0%. Also, monthly headline CPI would decelerate to 0.3% from 0.4% reported earlier. Oil prices remained lower in March and its effect is expected to get visible in inflationary pressures.
On the other hand, core CPI that excludes oil and food prices is expected to increase to 5.6% from the former release of 5.5%. Resilience in demand for core goods due to a higher labor cost index is keeping inflationary pressures sticky. An occurrence of the same might force the Federal Reserve (Fed) to hike rates one more time in its May monetary policy meeting.
On the Swiss Franc front, Swiss markets are closed on account of Easter Monday. This week, the Swiss Franc will be guided by the Producer Price Index (PPI) data
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