The US CPI data for July will be released at 8:30 tonight. The market expects the overall CPI to increase by 2.8% year-on-year.

The US Consumer Price Index (CPI) data for July will be released at 8:30 PM Beijing time tonight. Market expectations are for a 2.8% year-on-year increase in the overall CPI, up from 2.7% in June, with the core CPI expected to rise to 3.0% annualized. Chicago Mercantile Exchange data indicates investors are pricing in a near 90% probability of a September rate cut by the Federal Reserve.