On June 7, the important macro data release schedule for next week is as follows:

Monday 22:00, US April wholesale sales monthly rate;

Monday 23:00, US May New York Fed 1-year inflation expectations;

Wednesday 20:30, US May #cpi data;

Wednesday 22:30, US EIA crude oil inventory, Cushing crude oil inventory, strategic petroleum reserve inventory as of the week ending June 6;

Thursday 20:30, US initial jobless claims for the week ending June 7, US May PPI;

Friday 22:00, US June year-on-year inflation rate forecast preliminary value, US June University of Michigan consumer sentiment index preliminary value.

The US May CPI report to be released next Wednesday will test the market's optimism about interest rate cuts, as it may show a stagnation in the recent downward trend of inflation. According to the Cleveland Fed's Nowcast model, the overall CPI for May is expected to grow by 2.4% year-on-year, up from 2.3% last month; core CPI is expected to grow by 2.8% year-on-year, unchanged from last month. Analysts expect the core goods three-month annualized inflation rate to peak in early fall (4%-5%), slightly lower and delayed compared to the forecast before the suspension of 'equivalent tariffs' on May 8.