I just noticed that there is a quite important upcoming US CPI release schedule. This data is usually released early in the morning ET time, and it can have a significant impact on the market.

The CPI is essentially an index tracking the daily prices that American consumers have to pay. It differs from the PPI because it looks from the buyer's perspective rather than the producer's. That’s why this data is considered a more accurate measure of actual inflation.

The interesting part is that this US CPI release schedule can directly influence the Fed’s interest rate decisions. The market is currently expecting the Fed to cut interest rates multiple times this year, compared to previous expectations of just once. If the CPI data exceeds expectations, the market may need to adjust these expectations.

Interestingly, market volatility is increasing — the VIX hit 28 before retreating to 26.6. The VIX futures structure also shows some stable signals, suggesting that the market may be searching for a bottom. So, pay close attention to this upcoming US CPI release schedule, as it could shape the trend in the coming weeks.