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Optimism of the US dollar buyers is gradually fading away. Yesterday, the US dollar found strength for the long awaited correction, but today the market sentiment shows a lack of confidence in the American currency. The EUR/USD pair remains above 1.17. Today, the market will analyze the flash data on inflation in the largest economies of the eurozone. Based on these data, the markets and monetary authorities will see whether the euro area economy is ready to wind down the stimulus programs and whether it is effective to keep the key interest rate at the zero level. The German inflation data is soon to be released. Meanwhile, the data on consumer prices in France is already available. France's inflation rate fell by 0.3% in July, which is below the flash estimates, so market participants see this information as a sign to buy the euro. The growth of the euro was also supported by the release of France's GDP data for the second quarter. According to published data, the French economy expanded by 0.5% in the period from April to June. On a year on year basis, the GDP grew by 1.8%, exceeding a 1.6% increase expected by economists. In addition, investors are encouraged by the statistics from Spain.