• The US Dollar trades in the green across the board on Monday.
• The focus will be on the US inflation data for October later this week. 
• The US Dollar index pops above 105.00 and is ready to test resistance levels. 

The US Dollar (USD) starts the week on the front foot and strengthens on Monday,  with the US Dollar Index (DXY) edging higher above the 105.00 level. The positive undertone for the Greenback is supported by the increasing likelihood that the Republican Party will win a majority in the US Congress after President-elect Donald Trump has already won the presidency and the Republicans secured a majority in the US Senate. The vote count for the House of Representatives is still ongoing, with only four more seats needed for the Republicans to win it. 

The US economic calendar is empty on Monday in observance of Veteran's Day. Stock markets in the US will remain open, but bond markets will be closed. 

Later in the week, investors will pay close attention to speeches from several Federal Reserve (Fed) officials, including Fed Chair Jerome Powell, and the US Consumer Price Index (CPI) data for October, which will be published on Wednesday.