According to BlockBeats, IG Group analyst Jeremy Naylo said that the Federal Reserve's interest rate decision will be a turning point this week, although we do not expect any changes in interest rates. Before that, the US statistical department will release the May CPI data. This is likely to show that the inflation stickiness we have seen will continue. The US core CPI is expected to increase by 3.5% year-on-year in May, but the real concern is the service industry. The US service industry CPI has been rising in the past two months. It increased by 5.3% year-on-year in April.
Richard Snow, currency analyst at Daily FX, told traders that so-called “super core” inflation, or services inflation minus housing inflation, is widely expected to keep year-over-year gains at 5.3% for at least the past two months, which could mean the Federal Reserve has little room to cut rates.