QCP released its daily market observations, stating that the US July CPI (Consumer Price Index) increased by 2.7% year-on-year, lower than the market's expected 2.8%; core CPI increased by 3.1% year-on-year, slightly higher than the expected 3.0%. The relatively moderate overall inflation reading reinforces expectations that the Fed will begin a rate cut cycle in September, with most market participants expecting a 25 basis point cut. The previously expected rise in commodity inflation due to businesses passing on higher costs to consumers turned out to be lower than expected this time. Looking ahead, the Jackson Hole Symposium will be the next focus. It is expected that Fed officials will signal a 25 basis point rate cut in September at the meeting. Before the September FOMC meeting, there is only one CPI and one non-farm payroll data release left, and it is believed that these data are unlikely to substantially change the Fed's decision.