Tonight at 8:30 PM, the US will release the July CPI data, which will be key in determining the interest rate trend for September.
According to S&P Global, the market is waiting for the July CPI data against a backdrop of concerns that new tariff policies (starting August 7, with increased taxes and threats of 100% tariffs on chips) will push inflation higher.
CPI data is particularly important for monetary policy, especially for the Fed's next interest rate announcement.
According to CME FedWatch, the probability of the Fed 'cutting rates in September' is currently 80.3%, following weaker-than-expected employment data.
A CPI lower than expected will strengthen the possibility of a 'Fed pivot'; conversely, higher data will increase adjustment pressure in the capital markets and cryptocurrency markets.