• The US Dollar is flat to marginally gaining against most major peers. 
• All eyes are on the US inflation print for July being released on Wednesday. 
• The US Dollar index resides near a key level, and a substantial move could be seen later this week. 

The US Dollar (USD) has a soft opening this week, with no real outliers on the quote board on Monday. Traders are taking a clean sheet and have deemed last week’s events as water under the bridge. All eyes will be on the US Consumer Price Index (CPI) for July, which is scheduled for Wednesday. 

On the economic data front, it is a calm start to the week, with the US Treasury heading back to markets to auction some shorter-term bills. As such, it is nothing special, though with yields having moved quite a lot last week, traders and markets will be cautious if the bond market hits that snapping point when prices could collapse again. Besides the US CPI, the US Retail Sales data for July scheduled for Thursday will be the last important data point this week.