TechFlow news, October 29 — According to foreign media analysis, the press conference by Federal Reserve Chair Powell is where market attention is most focused. The current baseline scenario is that, in the absence of government data, Chair Powell will maintain the status quo and reveal little in terms of forward guidance. The only potential market surprise would be if he expresses uncertainty about a December rate cut, which could likely be seen as a hawkish surprise given the market's current confidence in a December cut. In theory, the immediate market reaction would be: U.S. stocks falling, Treasury yields rising—with short-term yields rising faster than long-term yields—dollar strengthening notably, and precious metals such as gold and silver declining. On the other hand, if Powell maintains his unchanged stance on a December rate cut, markets will continue to fluctuate based on developments in trade relations. (Jinshi)
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