According to Odaily, market attention is focused on this week's U.S. Consumer Price Index (CPI) report, with traders hoping it will provide the Federal Reserve with the necessary data to initiate rate cuts at the next meeting in September. Given that Federal Reserve Chairman Jerome Powell may soon outline a rate cut plan at the Jackson Hole Economic Symposium, traders are questioning whether market movements during his speech will surpass those following the inflation data release.

Later this month, Powell's message could assist investors in predicting the number of rate cuts over the next year. This follows his indication at the end of July that policymakers might reduce borrowing costs at the September meeting.