The CPI data exceeding expectations is itself considered a Favourable Information, but as mentioned earlier, the inflation data for March is not directly affected by tariffs, so the data carries less weight.

Of course, the data exceeding expectations also lays a good foundation for the potential inflation rebound in April. The previous value was low, so the inflation rebound value will also be relatively low. However, more importantly, it is the magnitude of the inflation rebound in April and May that will depend on the data from those months.

However, fortunately, inflation has not risen. If it really goes as I think, the early release of tariff expectations could lead people to stock up in advance, causing inflation to rise in March.

So for the current macro narrative - "The Damage Caused by Tariffs to the Economy", this is like adding fuel to the fire.

Returning to the price, although the data is Favourable Information, the bulls are still not sufficiently strong. After the data was released, the S&P futures rebounded slightly, but then continued to fall and maintain a downward trend.

The same is true for VIX, as the data stimulus fell back to 35 and then continued to rise.

It is clear that this data cannot play a decisive role in the panic of the risk market, let's wait for the US stock market!
#加密市场反弹 #特朗普暂停关税 #CPI & PPI 数据将公布