The crypto market is in a short-term shock. The United States will release the July PPI on August 13, the July CPI on August 14, and the July retail sales data on August 15. Secondly, as the date of the US election approaches, the United States will be in the center of the storm again. Third, Japan will release the second quarter GDP, and the yen carry trade will inevitably make waves again. It is particularly noteworthy that the July CPI will be released on August 14. This will be the penultimate CPI report released before the Federal Reserve’s September interest rate decision.

The market expects that the US inflation rate in July may rise moderately, but it will not be enough to affect the Federal Reserve’s generally expected interest rate cut next month. At present, the market expects that the US July CPI, whether it is the overall data or the so-called core indicators excluding food and energy, is expected to rise by 0.2% from June, which will cause short-term fluctuations in the market.

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