Odaily Planet Daily News Commerzbank pointed out that yesterday's PPI data was slightly lower than analysts expected, and the dollar has been under pressure. This is partly because some components of the PPI are directly included in the calculation of the PCE, which is the Fed's preferred inflation measure. But the lower-than-expected PPI may also have raised hopes that today's CPI data may be lower than expected. However, the bank expects that the risk of the dollar is biased to the upside, and the Fed will not consider a faster and more aggressive rate cut simply because the inflation rate is approaching 2% faster. The current annualized data of around 3% is still too high, although the monthly data has been low recently. However, if inflation is higher than expected, contrary to today's hopes, it will make a 50 basis point rate cut in September unlikely. The bank's economists recently reiterated that they do not expect a recession in the United States in the short term. In this case, they believe that the Fed is unlikely to cut interest rates by 50 basis points at one of the remaining three meetings, which is what the market is pricing. It is very likely that this negation is not gradual, but is tied to a data point. This may not happen today, but it is likely to happen sometime in the next few weeks. (Golden Ten)