*The US dollar index experienced a sharp decline last week following US inflation data. It started the new week in a narrow range but with a slight positive bias from the bottom. As a result, the EUR/USD exchange rate is at 1.1215, Gold is at $1947 per ounce, and the yield on the US 10-year Treasury bond is at 3.82%.

*US spot markets started the new week somewhat mixed. The Nasdaq maintained its upward trend with a 0.26% increase at the opening, while the Dow Jones and S&P 500 indexes remained relatively quiet.

*ECB member Vasle stated in a recent announcement that ‘core inflation remains high and resilient.’ This statement does not differ significantly from what other members have previously stated. Until the European Central Bank’s policy decision next week, there is unlikely to be much difference in tone and rhetoric regarding the policy from the ECB. Looking ahead, the September meeting will be interesting to see how they will navigate the policy given that there is currently almost no certainty regarding another interest rate hike in the near term.

*The Kremlin spokesperson, Dmitry Peskov, announced that Russia’s participation in the Black Sea Grain Agreement has ended as of today.

*The US New York Empire State Manufacturing Index came in at 1.10, while it was expected to be -4.30. Following the release of this data, we witnessed some appreciation in the US Dollar Index. When we look at tomorrow’s data traffic, notable releases include Retail Sales and Industrial Production from the US, as well as inflation data from Canada.