Dollar Steadies as Markets Anticipate Inflation Data

The US Dollar Index (DXY) has held steady near 98.82 as investors await crucial inflation data releases in the United States on Thursday and Friday.

Geopolitical tensions in the Middle East, rising energy prices, and increasing US yields have pushed inflation to the forefront of market concerns.

The DXY's 'doji' candlestick formation suggests indecision among traders, while EUR/USD has broken through the 1.1600 barrier due to overall US Dollar weakness.

Thursday's Producer Price Index (PPI) print and Friday's Consumer Price Index (CPI) report are key events investors will be monitoring, with many expecting a quarter-point rate hike from the European Central Bank (ECB).