Inflation returned to the 2-digit range, but the market reacted flatly.

This is mainly because the expectation of a rate cut is relatively certain, and the difference is no more than a 25% or 50% cut.

When inflation is more certain, the market becomes more worried about the weakness of the job market and the economy.

Therefore, the initial jobless claims data at 8:30 tonight and the monthly rate of US retail sales in July become more important. Recession trading may be restarted at any time, and the second probe may follow.