At 3 a.m., I believe everyone will be focused on the news of the Federal Reserve's interest rate cut. However, the market has already firmly priced in a 25 basis point cut, so it is highly likely that the market will follow the script for the rate cut. In fact, the risks during the meeting still revolve around the dot plot and the tone of Powell's speech.
If Powell mentions a slowdown in rate cuts for next year, the market will react with a certain decline, so we still need to see what old Powell has to say.