Mitsubishi UFJ: Powell's testimony tomorrow may cause market turbulence

On July 8th, Jin Shi Data reported that Mitsubishi UFJ Financial Group stated that if Fed Chairman Powell hints at a rate cut in the semi-annual testimony starting on Tuesday and the inflation data released by the United States on Thursday shows easing price pressures, the US dollar may decline. In a report, Li Hardman, an analyst at the bank's financial group, said, 'We expect Chairman Powell to send a signal that if inflation continues to ease in the coming months, the earliest rate cut could be in September.' He said that if core inflation data for June softens again, the Fed will embark on a rate cut path. In this case, the US dollar may decline in the next week unless there is a significant unexpected rise in US inflation.