The market is focused on today’s U.S. Consumer Price Index (CPI) report, due at 8:30 AM ET. Economists expect headline inflation to ease to 3.8% year over year, while core CPI is seen at 2.8%. A hotter-than-expected reading could lift Treasury yields and the U.S. dollar while pressuring equities. A softer report may boost risk assets by strengthening expectations for Federal Reserve rate cuts later this year if inflation cools.
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