Today the main event of the day will be the US inflation report for August. The market expects the indicator to decrease by 0.1 percentage points up to 5.3%. Inasmuch as the strong rise in inflation this year was caused by the rise in the price of raw materials, it is useful to look at the dynamics of the CRB commodity market index – this indicator in August showed, albeit symbolic, but still an increase of 0.04%.

Against this background, today’s inflation release may come out better than the median forecasts, which will provide short-term support for the dollar. It should be noted that this does not change the main trend in any way, insofar as in the coming month the Fed will print more money than the ECB, which in turn will have a negative influence on the value of the American currency.

Trading recommendation: flat 1.1750 – 1.1845.