Analysts at TD Securities explained that the main US data release this week is January CPI data on Friday. Key Quotes: "In line with consensus, TD expects that weaker gasoline and food prices should push headline CPI down a further 0.1%, marking the second consecutive monthly decline. However, favourable base effects should push annual inflation higher to 1.2% Y/Y (consensus 1.3%) from 0.7% last month. Core inflation should remain weak and eke out a 0.1% M/M gain (consensus: +0.2%) while the pace of inflation should slip modestly, falling to 2.0% Y/Y (consensus: 2.1%) on account of the strong dollar." For more information, read our latest forex news.