Upcoming U.S. Economic Data Releases to Impact Market Sentiment

According to BlockBeats, several key macroeconomic data points are set to be released next week, which could influence market sentiment. On Monday at 22:00 UTC+8, the U.S. will release the wholesale sales month-over-month rate for April, followed by the New York Fed's one-year inflation expectations for May at 23:00 UTC+8. Wednesday will see the release of the U.S. Consumer Price Index (CPI) data for May at 20:30 UTC+8, alongside the weekly EIA crude oil inventory, Cushing crude oil inventory, and strategic petroleum reserve inventory figures at 22:30 UTC+8. On Thursday at 20:30 UTC+8, initial jobless claims for the week ending June 7 and the Producer Price Index (PPI) for May will be announced. Friday's releases include the preliminary one-year inflation rate expectations for June and the preliminary University of Michigan Consumer Sentiment Index for June at 22:00 UTC+8. The U.S. May CPI report, scheduled for Wednesday, is expected to test the market's optimism regarding potential interest rate cuts, as it may indicate a halt in the recent downward trend in inflation. The Cleveland Fed's Nowcast model predicts a year-over-year increase of 2.4% for the overall CPI in May, up from 2.3% in the previous month, while the core CPI is anticipated to remain steady at 2.8% year-over-year. Analysts forecast that the annualized inflation rate for core goods over three months will peak early this fall, ranging between 4% and 5%, slightly lower and delayed compared to predictions made before the suspension of "reciprocal tariffs" on May 8.