On Thursday, the United States announced the final annualized quarter-on-quarter GDP and core PCE price index for the second quarter. The previously announced revised values ​​showed that U.S. GDP increased significantly in the second quarter and PCE expenditure growth unexpectedly surged, indicating that the economy and consumption are still resilient.

On Friday, the presidential election of Japan's ruling Liberal Democratic Party kicked off. The new president will succeed Fumio Kishida as Japan's prime minister. The number of candidates for the Liberal Democratic Party election is nine, the highest in history. Voting and counting of votes in the first round of the election is scheduled for the 27th, and it is expected that no one will get more than half of the votes.

The United States will release the PCE price index for August on Friday. Bank of America expects the US PCE inflation in August to be encouraging, but considering that the Federal Reserve has clearly stated that it is more concerned about the labor market.

Thursday's top data may be more important. On Friday, Federal Reserve Chairman Powell will give an opening speech for an event and speak publicly for the first time after the Fed cut interest rates by 50 basis points for the first time in four years. Investors are focusing on his possible remarks on the path of interest rate cuts this year.

On Wednesday, the People's Bank of China will carry out the MLF renewal. Following the Fed's rate cut, China's September LPR was not lowered. Minsheng Securities said that history shows that the pace of domestic monetary easing may be slightly later than overseas. It is expected that the domestic reserve requirement ratio will be lowered and the reverse repurchase or MLF interest rate will be lowered next, and the existing mortgage interest rate may be adjusted first or followed closely.