Important events today:

13:30 UTC – US: producer price index for November.

The growth of quotations in the area of 137.50 is reasonable to use to open Sell positions for two reasons. Firstly, on the interbank lending market in London there is still a trend for lower dollar interest rates, which is negative for the US currency.

Secondly, today we may get negative statistics from the USA producer price index – the decrease of this index will point at the fall of the inflation rate, the report on which will be published next Tuesday. In its turn, the fall in inflation will allow the U.S. Federal Reserve to say that the interest rate growth cycle may be over in the coming months, which is negative for the dollar.

Recommendations: Sell 136.50/137.00 and TP 136.00.