The US consumer price index rose 0.6% MoM in March, the biggest increase since August 2012, with the yearly change rising sharply to 2.6%.
From other news, Johnson & Johnson has delayed the rollout of its Covid-19 vaccine outside the US after the FDA paused using the vaccine in the States due to blood clotting worries.
Traders will pay attention to today's EU industrial production data for February, which is expected to weaken again as more lockdowns were (re)introduced in Europe.
Later in the day, the ECB and Fed's chairmen (Lagarde and Powell) deliver speeches, most likely influencing markets.
The EURUSD pair is trying to breach the strong resistance of 1.1950, and if bulls are successful, the medium-term outlook could change to bullish. Additionally, the USDJPY pair fell below 109, and cable managed to rise toward 1.38.