Analyst: US CPI monthly rate may record negative growth, easing market concerns about the Fed's upcoming interest rate hike. According to analyst Matthew Weller on July 14th, whether inflation has peaked is the most concerning issue for the market before the release of the June CPI report. For the first time in three months, the Strait of Hormuz partially reopened in the second half of June, causing a significant drop in energy prices, and the delayed impact of Trump's now defunct "Liberation Day" tariffs may have been largely absorbed by the market. In this context, traders and economists expect the overall inflation rate to record its first negative growth in over a year, which will ease market concerns about the Federal Reserve's imminent interest rate hike. The federal funds futures market is currently priced at a 35% probability of the Federal Reserve raising interest rates at this month's meeting, following the relatively hawkish tone of the meeting last month under the leadership of new Federal Reserve Chairman Walsh. Although hawks may be overly optimistic, an unexpected CPI report, coupled with Chairman Walsh's attendance at both houses of Congress on Tuesday and Wednesday, could still trigger abnormal volatility in major markets amidst uncertainty.