Tonight, we’ve got the ADP employment report and PCE data coming out. I’ve been out and about today, so no time to write up an analysis in advance. But with the big NFP report coming on Friday, this less significant ADP report can be ignored for now. Now, about the PCE data—PCE and CPI are the two most important components of inflation data, so of course, it’s worth paying attention to. Especially since tonight’s release is the first macro data post-rate hike *and* includes changes to the calculation methodology, which are major highlights. According to the Cleveland Fed’s model update on September 29 (which is usually spot-on): August’s overall PCE month-over-month is estimated at 0.34%, with core at 0.27%. Current market consensus expectations are: headline MoM at 0.4%, YoY at 3.8%; core MoM at 0.3%, YoY at 3.4%. If we go by the previous high oil prices, August’s PCE data should lean hot. But since the calculation methodology has been adjusted, the goal is obviously to find ways to suppress the data. Plus, with oil prices being intentionally and very timely suppressed since the day before yesterday, it seems like an effort to convince the market that inflation data is indeed improving. Also, historical data will be revised today. If historical data suddenly gets revised downward, the market might seize the opportunity to hype it up before gradually accepting the changes and stabilizing again. In short, there won’t be consecutive rate hikes in October. But since the next FOMC meeting is still a month away, rate hike expectations will inevitably be speculated on back and forth. Just manage risk on both ends, and you’ll be fine. @BITstocks_CN Buy U.S. stocks on BIT—10,000+ U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.