Compiled by: GaryMa Wu Talks Blockchain

summary
Wu said this week's macro indicators and analysis: Last week, the US August unadjusted CPI annual rate was 2.5%, lower than expected, and the European Central Bank cut interest rates by 25 basis points; this week ushers in a super central bank week, with a focus on the Federal Reserve's interest rate decision, and it will soon be clear whether the rate will be cut by 50 or 25 basis points.

Last week review

  • Japan's second quarter real GDP annualized quarterly rate revised to 2.9%, expected to be 3.20%, and the previous value was 3.10%.

  • China's CPI annual rate in August was 0.6%, expected to be 0.70%, and the previous value was 0.50%.

  • China's M2 money supply annual rate in August was 6.3%, in line with expectations of 6.20% and the previous value of 6.30%.

  • The U.S. unadjusted CPI annual rate was 2.5% in August, lower than the expected 2.6% and the previous value of 2.90%. It was the fifth consecutive month of decline and the lowest level since February 2021.

  • The ECB decided to cut the deposit facility rate (DFR), one of the three major interest rates in the euro area, by 25 basis points (bp) to 3.50%, and to cut the main refinancing rate (MRO) and marginal lending rate (MLF) by 60bps to 3.65% and 3.90% respectively.

  • The number of first-time applications for unemployment benefits in the United States in the week ended September 7 was 230,000, compared with expectations of 227,000 and the previous value of 227,000.

  • The annual rate of PPI in the United States in August was 1.7%, in line with expectations of 1.8%. The previous value was revised from 2.2% to 2.1%.

  • The initial forecast for the US one-year inflation rate in September was 2.7%, the expected rate was 2.70%, and the previous value was 2.80%.

  • The preliminary reading of the University of Michigan Consumer Confidence Index in September was 69, expected to be 68.3, and the previous value in August was 67.9.




This week's key events & indicators

September 19

  • US Federal Reserve interest rate decision (upper limit) until September 18 (02:00)

  • Federal Reserve Chairman Powell holds a monetary policy press conference (02:30)

  • UK central bank interest rate decision until September 19 (19:00)

  • Number of initial jobless claims in the United States for the week ending September 14 (10,000 people) (20:30)

  • Bank of Canada releases monetary policy meeting minutes (01:30)


September 20

  • Japan's central bank target interest rate (upper limit) until September 20 (11:00)