Are you ready? The most important CPI data of the year in the US is scheduled to be released tonight.

Why is it the most important? First, it's the first month's CPI data after the decline in oil prices. The market predicts it will drop from last month's 4.2% to 3.8%, indicating significant optimistic expectations from the market.

Then, Fed's Waller said last night that if the data tonight is not good, he will support raising interest rates in the near term. Therefore, tonight's data will directly impact the Fed's interest rate policy in September, or even as early as July. The entire market is waiting for this data.

Additionally, after the data release, Wash will attend a Senate hearing tonight. The market will also look for clues from his Q&A session.

So tonight is destined to be anything but calm. And are you ready?

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