The U.S. PCE data for August will be released in the evening, and all of it aligns with expectations, with a small silver lining being that the previous value of the core PCE rate has been revised from 0.3 to 0.2, as core PCE inflation remains largely stable, within a controllable range, and is unlikely to lead to a change in the pace of the Federal Reserve. In terms of details:

1) The cost of services is the main factor driving prices. Among these, the primary driver behind "core super inflation" ( inflation in the services sector that excludes housing ) comes from the costs of financial services, food services, and transportation. The report indicates that the rising cost of financial services is linked to a recovery in the stock market and related services, and does not have a direct correlation with tariffs.
There was no expected recovery in the inflation of durable goods, as their prices fell again in August. At the same time, the prices of non-durable goods also showed a downward trend. Commodity prices continue to weaken, indicating that the pace of tariff pass-through is slower than expected.

U.S. consumer spending rose strongly for the third consecutive month in August, increasing by 0.4% after adjusting for inflation, surpassing expectations of 0.2%, indicating consumer resilience.

The one-year and five-year inflation expectations announced later were slightly lower than expected.

The overall picture shows that despite rising inflation, it remains under control, and American consumption is still strong. As mentioned earlier, the three scenarios are in a moderate position: this situation would be better for American stocks, the fundamentals are stronger, and the currency is relatively favorable, which may slow the rapid decline seen in recent days. )#BTC