Overnight Market Review (2022.9.9) US Federal Reserve Chairman Powell delivered a “hawkish” speech on Thursday, saying that direct and forceful action is needed to combat high inflation until the bureau completes its task, and history warns against premature relaxation policy.
Although, Powell did not set the tone for the Fed to raise interest rates in September, emphasizing that it depends on the upcoming data. However, the market is currently speculating that the authorities will raise interest rates by 0.75% in September. Bank of America and Jefferies immediately adjusted their forecast for the Fed to raise interest rates in September. Goldman Sachs has already made the same revision.
The upcoming Chinese PPI and CPI data will be closely watched on Friday.
Trading strategy deployment: it is recommended to do more at low levels
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