Next week, due to the continued government shutdown in the United States, there will be less important data coming from the US, but many Central Banks will hold monetary policy meetings, including the Fed, the European Central Bank, and the Bank of Japan. Here are the key points that the market will focus on in the new week (all in Beijing time):

Thursday 02:00, the Fed announces the interest rate decision;

Thursday 02:30, Fed Chairman Powell holds a monetary policy press conference;

On Friday at 01:15, 2026 FOMC voting member and Dallas Fed President Logan will give a speech;

On Friday at 21:30, 2026 FOMC voting member and Dallas Fed President Logan will speak;

Before having a clearer understanding of inflation and the job market, Powell is unlikely to significantly change his wording on the future policy path while announcing a 25 basis point rate cut.

Therefore, considering the recent tensions in trade relations and the ongoing government shutdown, Powell and his colleagues' statements on Thursday may appear slightly dovish, but the extent may not be too great.

Even dovish members like Waller are reluctant to commit in advance to a series of rate cuts. If the Fed questions the market's expectation of a 100 basis point rate cut after October, the risk of disappointment for traders will increase. #BTC