The United States is set to release its January Consumer Price Index (CPI) data tonight at 21:30 (UTC+8). The unadjusted year-over-year CPI is expected to be 2.50%, down from the previous 2.70%. The adjusted month-over-month CPI is anticipated to remain steady at 0.3%. Goldman Sachs analyst Kay Haigh suggests that while there is potential for two Federal Reserve rate cuts this year, a higher-than-expected CPI reading could lead to a more hawkish monetary policy. On Polymarket, the probability of the unadjusted CPI being 2.8% or lower is 96%, with only a 2% chance for it to be 2.9% or 3.0%.