U.S. June CPI Released on July 14 Amid Fed Rate Hike Concerns; July Tightening Odds Hit 43.3%

According to New York Times, the U.S. Department of Labor will release June consumer price index (CPI) data today at 8:30 AM ET (9:30 PM KST), a key inflation gauge watched closely by markets amid growing Federal Reserve rate hike concerns.

On July 14, Federal Reserve Governor Christopher Waller stated that if core inflation—which excludes volatile food and energy prices—exceeds expectations again this week, the FOMC should consider monetary policy tightening. Following his remarks, CME FedWatch data showed July rate hike odds surged 9 percentage points to 43.3%. If today's CPI beats forecasts, risk assets including cryptocurrencies may face downward pressure.