ChainCatcher message, Commonwealth Bank economist Capso said that the speech delivered by Federal Reserve Chairman Powell at the Jackson Hole annual symposium will be the next catalyst for the dollar's trend. However, do not expect Powell to send clear signals in any direction.

Capso mentioned that he may hold his options and wait for more data. However, if Powell indicates a willingness to cut interest rates, the market is expected to price in a September rate cut more fully, and the dollar will moderately decline. He noted that the probability of a rate cut in September is currently around 70%, which sets a high threshold for Powell to deviate from market expectations. (Jinshi)