"The two biggest factors currently impacting the market are oil prices and interest rates, and these two are closely interconnected. Initially, oil prices were trending downward in June, and the market held a generally optimistic outlook for June's CPI data. However, the rebound in oil prices over the past week has added a touch of concern to the market. While this recent rebound won't change tonight's June CPI, it will influence how the market interprets it. As for tonight's CPI data, the market's focus is on the unrounded core monthly rate: - If it equals the expected value of 0.2%, it's a smooth transition. - If it's greater than 0.2%, the probability of a July rate hike will increase, and the market has already treated a September rate hike as the baseline scenario. - If there's a shocking surprise with a value below 0.2%, and the market starts frantically unwinding rate hike expectations while gradually pricing in rate cut expectations, then that would be a truly game-changing day. But the odds of this happening are extremely low. For gold, oil, stocks, and crypto, the transmission chain of Hormuz traffic volume and Walsh's rate hike pace is: Iran escalation → oil prices rise → CPI → rate hike pricing → USD/real interest rates ↑ → pressure on gold and crypto, internal rotation within stocks. If there’s a rate hike in Q3 and a traditional off-season in Q4, it could mean the second half of the year will be tough. In a trendless market, rotating between assets for short-term trades might become the best strategy. This content is sponsored by @BITstocks_CN. Buy U.S. stocks on BIT—16,000+ U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.