Tomorrow is CPI day, which means we get yearly and monthly inflation data at 12:30 UTC.

Core CPI forecast YoY is 2.8% (0.1% increase since June), and 0.3% MoM (0.1% increase since June).

Inflation is increasing due to tariffs, so this is not surprising.

If the data comes in too hot, the FED might wait even more to pivot to lower interest rates.