Written before today's CPI data release Tonight at 8:30 PM Beijing time is when the U.S. August CPI data will be announced. The importance of this CPI report could directly impact the Fed's dot plot for September. As for a rate hike in September, I still think the probability is low—unless the CPI data is shockingly high, which is also unlikely. Yesterday's drop in U.S. stocks was due to the PPI data not only surging significantly but also exceeding expectations, leading investors to worry about rising inflation and, consequently, the possibility of a Fed rate hike. Although I believe there won't be a rate hike in September, that doesn't mean October is off the table. Based on current data, July's inflation was 3.4%, the market forecast is also 3.4%, and the Cleveland Fed's prediction remains at 3.4% (3.38%). So, I think the likelihood of a significant overshoot is not high. However, if the inflation data exceeds the previous value, even slightly, the market will become more concerned. So as long as tonight's CPI exceeds 3.4%, it won't be good news for the market. If it comes in at exactly 3.4%, the market impact will be minimal, and it might even give the market a chance to breathe since it aligns with expectations. Of course, if it's below 3.4%, that would naturally be better for the market. Aside from broad inflation, core inflation is also a key focus. The previous value was 2.5%, the forecast is 2.4%, and the Cleveland Fed's prediction is also 2.4%, indicating that core inflation for August is at least trending downward. But given that diesel prices in the U.S. have already exceeded $6, good data for August doesn't hold much significance for September's outlook. If core inflation is also rising, then things will naturally look worse—especially since today is the weekend. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFD, prediction markets all-in-one trading platform