According to TechFlow, at 20:30 on June 12, 2024, Singapore time, the U.S. Department of Labor will release the annual rate of unadjusted CPI and the monthly rate of seasonally adjusted CPI in May. The annual rate of unadjusted CPI in May is more concerned by the market. The annual rate of CPI reflects the overall trend of price changes within a year and is an important indicator for measuring long-term inflation. The monthly rate of CPI reflects the short-term trend of price changes within a month and is an important indicator for analyzing recent inflation changes. When reporting CPI data, the media may selectively use monthly or annual rate data to attract attention. If the published value is less than the expected value, for example, the published value of the annual rate of unadjusted CPI in May in the United States is 3.3% less than 3.4%, and the published value of the monthly rate of seasonally adjusted CPI in May in the United States is 0.1% less than the expected value of 0.3%, it is bearish for the US dollar and bullish for non-US currencies. It is bearish for Treasury yields. It is bullish for expectations of interest rate cuts and bearish for expectations of interest rate hikes. It is bullish for risk markets and virtual currency markets.