● Macroeconomic Outlook: U.S. August PPI and CPI data are coming soon
According to BlockBeats, influenced by a disappointing U.S. non-farm payroll data, expectations for a Fed rate cut have risen. Despite market expectations for further rate cuts by the Fed, the dollar has surprisingly remained strong, even after disappointing non-farm payroll data. Several Fed observers have stated that this U.S. non-farm payroll data has locked in a rate cut for this month. Investors share the same view, raising the probability of a rate cut at this month's meeting to 99%.
Events worth noting for the upcoming week include: Monday, the U.S. August NY Fed 1-year inflation expectations. Wednesday, U.S. August PPI data; U.S. July wholesale sales monthly rate.
On Thursday, the U.S. will release August CPI data and the initial jobless claims for the week ending September 6. On Friday, the U.S. will report the preliminary one-year inflation rate forecast for September and the preliminary University of Michigan consumer sentiment index for September. If the PPI shows unexpected growth again in August, investors may reduce their more dovish expectations for Fed rate cuts. However, for now, the impact of tariffs on commodity prices appears to be mild, and a potentially bigger headache for the Fed is the recent rebound in services inflation. According to the Cleveland Fed's real-time forecasting model, the overall CPI year-on-year rate is expected to rise slightly by 0.1 percentage points to 2.8% in August, while the core CPI year-on-year rate is likely to remain unchanged at 3.1%.
● Trump exempts metals such as gold, tungsten, and uranium from global tariffs
According to BlockBeats, U.S. President Trump took action on Friday to exempt graphite, tungsten, uranium, gold bars, and other metals from his national tariffs while imposing taxes on silicone products. According to an executive order released on Friday, these changes will take effect on Monday. Trump's directive may also accelerate the implementation of customized trade agreements between the U.S. and other countries, making it easier for Washington to remove tariffs on aircraft components, generic drugs, and certain products that cannot be grown, mined, or naturally produced domestically (such as specialty spices, coffee, and certain rare metals).
The president's order states that these changes were made based on recommendations from U.S. officials. Under this measure, 'these modifications are necessary and appropriate to respond to the national emergency declared by Trump when he first implemented national tariffs in April.'
● The SEC establishes a cross-border task force to investigate foreign fraud schemes
According to ChainCatcher, the U.S. Securities and Exchange Commission (SEC) announced the establishment of a cross-border task force aimed at investigating foreign fraud schemes, including market manipulation. The task force will strengthen enforcement against 'gatekeepers' that assist these organizations in entering the U.S. capital markets. Additionally, the task force will review the role of foreign government control and other factors in violations of securities laws.
● The SEC extends the review period for Grayscale Polkadot Trust listing application
According to reports, the SEC announced on September 5 that it will extend the review period for the listing application of Grayscale Polkadot Trust (DOT) submitted to Nasdaq. This application was initially submitted on February 24, intending to list and trade DOT shares under Nasdaq Rule 5711(d). The SEC stated that it will take a longer time to decide whether to approve, deny, or initiate proceedings for further review of the proposal.
● Data: Corporate holdings of BTC have doubled in the past 9 months
According to Deep Tide TechFlow, on September 6, Cointelegraph cited data from River indicating that corporate holdings of BTC have doubled in the past 9 months.
According to reports, Messari data shows that the size of mergers and acquisitions (M&A) in the cryptocurrency industry in 2025 is expected to match the total of the past five years. So far, disclosed deal amounts have reached $11.98 billion, more than three times that of any single year from 2020 to 2023.
According to ChainCatcher, Joe Burnett, strategic director of Bitcoin treasury company Semler Scientific, stated that the market is at the end of the long-term debt cycle as described by Ray Dalio. The valuations of stocks, real estate, and fixed-income products are extreme.
The ultimate result of the long-term debt cycle is the depreciation of fiat currencies, and the only exit is hard currency. Gold was once the hardest currency, while Bitcoin is now the hardest currency and may completely destroy all asset classes.
