The Federal Reserve's interest rate meeting in the early hours of Thursday.

The expectation of no interest rate cut in June continues to rise, likely reaching 70% before the meeting. It has been mentioned before that if there is no economic recession, the Federal Reserve is unlikely to choose to cut rates in June. Therefore, the market's focus is on what Powell says about the economy and inflation, trying to hear whether the Federal Reserve will choose to cut rates in July. In fact, I think Powell's remarks at the May meeting were the same as usual: looking at the data, inflation at 2%, and maintaining the status quo.

The June meeting should be slightly more noteworthy. Although it is not about betting on a rate cut in June, the dot plot in June will be quite important if it is two or three times.

Therefore, in my personal view, before the interest rate meeting in the early hours of Thursday, the market is more likely to remain volatile, waiting to see what Powell says, whether he shows a dovish side or a hawkish side.