Core Viewpoint - The Federal Reserve's interest rate cuts typically lead to global liquidity easing, a weaker dollar, stronger non-dollar currencies, and increased global risk appetite, but the overall impact depends on the pace of rate cuts and the economic fundamentals of various countries [1] Group 1 - The discussion involves insights from Hu Jie, a professor at Shanghai Jiao Tong University's Shanghai Advanced Institute of Finance and a former senior economist at the Federal Reserve [1] - The potential effects of the Federal Reserve's rate cuts on global financial markets are explored [1]

Group 1 - The foreign exchange market is entering a data-intensive period, with the U.S. Consumer Price Index (CPI) data being a key focus that will influence market expectations regarding the Federal Reserve's policy direction [1] - If inflation data continues to show signs of cooling, it may strengthen market expectations for a rate cut in September, putting additional pressure on the U.S. dollar [1] - In Europe, speeches from European Central Bank officials and economic data releases from the Eurozone will be important indicators for the euro's performance [1] Group 2 - The ongoing weakness of the U.S. dollar provides emerging market currencies with a rare opportunity for recovery, particularly for those with strong fundamentals [2] - The combination of the dollar's historical weakness, easing geopolitical risks, and a return of market risk appetite is reshaping the global currency landscape [2] - Investors are advised to closely monitor changes in Federal Reserve policy expectations, developments in geopolitical situations, and the divergence in economic fundamentals across countries [2]