Regarding the speech after 2 AM tomorrow

I believe that interest rate cuts are unlikely

Unless preconditions are met, Old Powell will still joke around in the early morning, and the hawks will just say a few words and that's it

As for the preconditions, the most important point is that the tax issues between China and the US must be negotiated and settled

The core significance of interest rate cuts is actually to protect people's livelihoods and employment, and the recently announced unemployment claims data meets expectations!!

Therefore, the divergence in the weekly K chart must inevitably test the support at the 102500 level.