Will the CPI report trigger a big rise in the cryptocurrency market?
The U.S. Consumer Price Index (CPI) report for August will be released at 20:30 tonight. This will be the "last piece of the puzzle" before the Fed's September interest rate meeting, and whether the Fed will cut interest rates by 50 basis points may depend on this.
The year-on-year increase in the U.S. CPI in August is expected to fall from 2.9% to 2.6%, while the year-on-year increase in the core CPI is expected to remain at 3.2%. In addition, the U.S. CPI and core CPI in August are expected to rise by 0.2% month-on-month, the same as the previous value;
If the core CPI rises by 0.4% or more month-on-month, U.S. Treasury yields may rebound, causing gold to lose its footing. On the other hand, if the data is equal to or lower than market expectations, it may make it difficult for the U.S. dollar to attract investors, thereby helping gold to rise.