The announcement of the US CPI data for June will be made at 20:30 tonight. Similarly, for the vast majority of traders, looking at the CPI annual rate is enough. The previous value was 3.3%, and the market expectation is 3.1%. The Cleveland Fed's expectation is 3.12%, indicating that the market is still relatively optimistic about the decline in inflation. However, the current expectation for core inflation is not very good. The previous value was 3.4%, and the market expectation is 3.4%. The Cleveland Fed's expectation is 3.52%, indicating that except for food and energy, inflation in the United States is still in a fluctuating state, and there may even be a possibility of rise. This means that it is still difficult to lower interest rates through inflation, and a better way is to force the Fed to choose between inflation and economic recession by increasing the unemployment rate, which comes with the risk of economic recession. Therefore, it is necessary to comprehensively look at the data today. If both CPI and core CPI are lower than the previous values, it is certainly favorable information. However, if only CPI falls and core CPI rises, the possibility of market fluctuations cannot be ruled out. If both rise, it goes without saying that it is time to long.