Important news next week 🇺🇸:

T2: News Drum

T3: News Drum

Wednesday: PMI 🇺🇸

T5: Q2 GDP 🇺🇸

Number of people applying for unemployment benefits 🇺🇸

T6: PCE 🇺🇸

Next week we have data on US GDP Q2/2024 and the FED's favorite inflation measure PCE index, these will be the two main data this week. US Q2 GDP with current expected growth rate will be 1.9%, up 0.5% compared to Q1/2024.

In his latest statement, Powell continued to repeat his views but in a more moderate direction and was a bit more open (due to the decrease in CPI). For the first time, Powell said that "the Fed will not wait until inflation reaches 2% to cut interest rates," and also said that "there will be no hard landing for the US economy." This shows that Powell is gradually becoming more confident as recent inflation data have decreased and opened the door to cutting interest rates sooner than expected, although Powell denied giving a signal about the prospect of a cut. reduce interest rates soon.

Economic data still shows that the US economy and labor market are continuing to cool as weekly Unemployment Benefits increased to a record high, which will further strengthen bets on the ability of the FED. will cut interest rates next September (95%)

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With just a few statements from D. Trump, the market has become tumultuous. Now investors are starting to not fear the FED anymore, only fear Trump. Now investors will wait to see with data next week, how the market and FED officials will react after Trump's speech.$BTC