Tonight's key focus is not on specific policy signals, but on how Powell uses technical language (such as 'patience' and 'data-driven') to withstand the political storm, while keeping the window open for a rate cut in September. If he forms a 'tacit alliance' with Lagarde, it may briefly boost the euro/dollar; if he releases dovish signals under pressure, gold and non-USD currencies will continue to rise. The real test for the market still lies in the July non-farm payroll data.