BlockBeats News, August 22: Next week, the global market will face multiple risk events, including the escalation of US-Iran sanctions, Fed Chair Powell's first appearance at the Jackson Hole Global Central Bank Symposium, the release of US July PCE inflation data, and Nvidia's earnings report, which may become a key variable affecting the trend of risk assets.

This week, the surge in US long-term bond yields has raised market concerns. After the Treasury Department expanded the size of long-term Treasury bond repurchases, the pressure in the bond market has eased slightly. However, investors are still monitoring US fiscal deficits, inflation, and developments in the Middle East.

Driven by concerns over US debt sustainability, a weakening US dollar, and the Treasury Department's expanded bond buyback plan, spot gold broke through $4600 per ounce this week, rising for the third consecutive week and hitting a high near $4632 on Friday. Analysts believe that if gold effectively breaks through $4600, the next target could be $4680 or even $4700.

Next week, US-Iran relations will be the market's top focus. US Treasury Secretary Mnuchin stated that the Trump administration will announce new sanctions against Iran on Monday. Trump previously warned that any country providing support to Iran may face economic consequences. Meanwhile, the ongoing disruption of shipping activities in the Strait of Hormuz continues, and the risk to energy supplies has driven oil prices higher.

On the Fed front, the Jackson Hole Global Central Bank Symposium will be held from August 27 to 29, where Fed Chair Powell will deliver his first speech on August 28. The market is watching to see if he will signal the future interest rate path and if he can ease recent pressures in the US bond market.

Currently, the market expects the probability of a Fed rate cut in September to have decreased slightly. Traders will focus on Powell's stance on the 2% inflation target, long-term interest rates, and the monetary policy framework.

In terms of economic data, the US July core PCE price index will be released next week, which is a key inflation indicator that the Fed focuses on. The market expects the core PCE to rise by 0.2% month-over-month. If the data exceeds expectations, it could weaken rate cut expectations and put pressure on gold; if it is below expectations, it could further drive up the price of the precious metal.

In addition, US Q2 GDP revision, durable goods orders, consumer confidence index, and non-farm payroll benchmark revision data will also be released next week.

On the corporate side, Nvidia's (NVDA) earnings report will be the focus of the US stock market. Recently, tech stocks have been under pressure, with the Nasdaq index falling by about 2% this week and the semiconductor sector seeing a decline of over 4%. The market will pay attention to Nvidia's statement on the sustainability of AI infrastructure investment, progress on the Rubin chip, and the situation of its business in China.

Analysts believe that if NVIDIA's performance continues to strengthen AI growth expectations, it could be a key catalyst to drive the S&P 500 index towards 8000 points; however, if the performance or guidance falls short of expectations, it could exacerbate the pullback pressure on the tech sector.