ChainCatcher reported that according to Jinshi, traders lowered their expectations for the Fed's rate cut after the release of the US CPI data. Interest rate traders lowered their bets on a 50 basis point rate cut at the Fed's September meeting, expecting a rate cut of about 33 basis points, compared with yesterday's expectation of 37 basis points.

Analyst Chris Anstey said it is worth noting that the US July CPI inflation rate has now fallen below 3%, the lowest level since inflation first ignited in the spring of 2021. The initial market volatility was not large. The US 2-year Treasury yield is currently up more than 4 basis points, showing that some people are disappointed that the inflation data has not become more subdued.