US inflation continues to decline, with the US dollar experiencing a slight drop The situation in the Middle East is volatile, with gold prices soaring by $15 and breaking through $2,400 at one point

Nick Timiraos, the spokesperson for the Federal Reserve, stated that although Fed officials are unlikely to cut interest rates in July, developments in inflation and the labor market should signal a rate cut at the September meeting. Officials hope to have more evidence that inflation is indeed cooling down before crossing the threshold for interest rate cuts. Nevertheless, officials are increasingly worried that waiting too long will lead to a soft landing foam. The Federal Reserve's preparation to cut interest rates reflects three factors: positive inflation, cooling job market, and changing considerations of the dual risks of allowing inflation to remain too high and causing unnecessary economic weakness.

The G20 Finance Ministers and Central Bank Governors Meeting pointed out that it will continue to promote the reform of the International Monetary Fund's quota system, and form an overall arrangement to guide the adjustment of quota ratios before June 2025, emphasizing that quota ratios should better reflect the relative position of member countries in the global economy.

The year-on-year increase in core PCE in the United States in June remained unchanged at 2.6%, the lowest level since March 2021, but slightly exceeding market expectations of 2.5%; The month on month growth rate rebounded to 0.2%. The overall PCE year-on-year growth rate fell from 2.6% in the previous month to 2.5%, the lowest level in five months. In June, actual personal consumption expenditure increased by 0.2% month on month, with an expected increase of 0.3%. The previous value was revised from a 0.3% increase to a 0.4% increase.

The final value of the University of Michigan's July Consumer Confidence Index fell from 68.2 in June to 66.4, an eight month low but higher than the initial value of 66.

The Bank of Japan will hold a policy meeting, and analysts are divided on whether the central bank will further raise policy interest rates. The recent strengthening of the Japanese yen has sparked speculation that the Bank of Japan may postpone interest rate hikes. However, some analysts point out that Japanese politicians are calling on the central bank to further tighten policies to ease the weakness of the yen.