Preview: The U.S. Core PCE Price Index Year-on-Year for July and the Final Consumer Confidence Index from the University of Michigan for August will be announced tonight.

On August 29, according to the schedule, the U.S. July Core PCE Price Index year-on-year will be released at 20:30 Beijing time tonight, while the final value of the U.S. August Michigan Consumer Confidence Index will be released at 22:00. According to forecasts, the PCE Price Index in July is expected to rise 0.3% month-on-month, remaining unchanged from the previous month. If this prediction holds true, the year-on-year growth rate of PCE inflation will rise from 2.8% to 2.9%, the highest level since February of this year, marking the third consecutive month of rise. Economists indicate that high inflation may limit the space for further interest rate cuts later this year. Some believe that only a surge in the August CPI inflation data, to be released two weeks later, could prompt the Fed to reconsider its interest rate cut plans at the meeting on September 16-17. (Jin10)