In the last few days of July, there was still high volatility. After the Federal Open Market Committee (FOMC) Meeting, August is expected to initiate a new wave of impact. The probability of a rate cut in September is high, and the tariffs in the US will not be postponed on August 1, resulting in Unfavourable Information finally landing. After the market digests this for a few days, it will rebound again; when the Unfavourable Information is fully released, it becomes Favourable Information.

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