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According to ChainCatcher, citing Jinshi News, investors are heavily buying long-term U.S. Treasury bonds ahead of Federal Reserve Chair Jerome Powell's upcoming speech at Jackson Hole, driving yields lower. Recent data has dampened market expectations for a rate cut in September. Powell faces a delicate balancing act and may avoid providing clear guidance before the August nonfarm payrolls data is released. Observers expect him to reiterate the Federal Reserve's independence from political pressure.

According to ChainCatcher, citing Jinshi News, currency options indicate that bullish sentiment toward the US dollar has reached its highest level in three weeks, as traders bet that Powell will not take an overly dovish stance on interest rate cuts. Sonja Marten, Head of FX and Monetary Policy Research at Deutsche Bank, stated that the possibility of a 25 basis point rate cut in September remains, but Powell is unlikely to be more aggressive than that. Nick Rees, Head of Macro Research at Monex Europe, pointed out that if the market pays excessive attention to Powell's comments hinting at rate cuts, it could trigger an initial sell-off of the dollar, but this situation may be short-lived.