ING Groep(US:ING) Sou Hu Cai Jing·2025-08-12 11:00Core Viewpoint - The report by ING analyst Francesco Pesole suggests that the upcoming US inflation data may exceed expectations, but any potential rise in the dollar is likely to be temporary [1] Group 1: Inflation Data - ING anticipates that the core inflation rate for July will rise by 0.4% month-on-month, surpassing the general expectation of 0.3% among economists [1] Group 2: Labor Market Impact - Labor market data is considered more influential than inflation data, as there is a belief that price shocks caused by tariffs are temporary [1] - The latest non-farm payroll report has been significantly revised downward, indicating potential weakness in the labor market [1] Group 3: Federal Reserve Expectations - If inflation exceeds expectations but is accompanied by further deterioration in the labor market, it may still align with expectations for a rate cut by the Federal Reserve in September [1] - This suggests that higher-than-expected inflation is unlikely to lead to a sustained increase in the dollar [1]