a strategist at TD Securities stated in a report that the US CPI inflation data is more likely to trigger a reaction in the Euro against the US dollar (EUR/USD), rather than the European Central Bank interest rate decision. The strategist said that the European Central Bank is expected to maintain the deposit rate at 2.0%, which is in line with market expectations. The central bank may indicate that uncertainty has decreased after the US and Europe reached a trade agreement, but will still emphasize that future decisions will be made gradually, depending on data. The strategist at TD Securities said: "US CPI will be a bigger driving factor in the foreign exchange market. We remain cautious about the strength of the US dollar due to stronger reports and signs of inflation transmission."