Interpret tonight’s macro data

PCE:

The relevant data of core PCE are similar to market expectations. Only personal expenditures increased at a monthly rate, which illustrates the flexibility of the US economy. High employment and high income will definitely lead to high expenditures.

Initial claims for unemployment benefits:

Midway between the previous value and expectations, it was lower than last week's data.

Generally speaking, the U.S. economy is indeed strong. Current data shows that it is unlikely to raise interest rates in September, but the dot plot will be released in September. If there is no change in the content of the dot plot, then the interest rate hike is basically over.

It is estimated that there will not be any major fluctuations in the U.S. stock market. Crypto still relies on BlackRock’s narrative to influence the market and continue to fluctuate. Haha.

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