Price pressures are soaring in the UK economy. The inflation rate has reached to 9.4% and has not displayed any exhaustion signals yet. Therefore, the market participants are expecting that the inflation rate could punch the two-digit figure. In times when inflation is soaring, earnings by the households have tumbled and more rate hikes could trim job opportunities significantly. Meanwhile, the US dollar index (DXY) is likely to extend losses if the asset drops below Monday’s low at 105.63. This week, the release of the US Nonfarm Payrolls (NFP) holds significant importance. As per the market consensus, the US economy has added 250K jobs in the labor market against the prior release of 372k. A downbeat performance is expected from the economic data as various US tech companies have halted their recruitment process. Also, the Unemployment Rate is seen stable at 3.6%.