After the eventful month of August, starting from September...

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- Consumer Confidence Index: Estimated 100.3, Result 103.3 (Estimated higher than expected)

- Q2 GDP growth rate (QoQ annualized): forecasted 2.8%, actual 3.0%. Exceeded expectations. )

- Q2 Core PCE (revised) growth rate (QoQ annualized): forecasted 2.9%, actual 2.8%. Below expectations. )

- New unemployment insurance claims: forecasted 0.232 million, actual 0.231 million. Below expectations. )

- Number of new unemployment insurance continuing claims: Forecast 1.87 million cases, Result 1.868 million cases (Forecast below expectations)

- PCE deflator (year-on-year): Forecast 2.5%, Result 2.5% (as expected)

- PCE core deflator (excluding food and energy) (month-on-month): Forecast 0.2%, Result 0.2% (as expected)

- PCE core deflator (excluding food and energy) (year-on-year): Forecast 2.7%, Result 2.6% (Forecast below expectations)

- Chicago Purchasing Managers' Index: Expected 45.5; Actual 46.1 (Exceeded expectations)

- University of Michigan Consumer Attitude Index (Confirmed Value): Expected 68.0; Actual 67.9(Below expectations)

Regarding the indicators related to inflation.It is becoming something that suggests a soft landing expectation.For this reason, the focus going forward will be on the indicators related to the unemployment rate.

- In response to the confirmation of the first polio infection in 25 years in the Gaza Strip, the World Health Organization (WHO) is planning vaccination for children. The WHO announced on the 29th that Israel has agreed to a "humanitarian temporary ceasefire" in combat.

→Temporary reduction in geopolitical risk may lead to a rise in risk assets and a decline in safe assets.However, keep in mind that this is temporary.

Ukrainian President Volodymyr Zelensky stated on the 27th that the cross-border attack on the Russian western region of Kursk by his own army is part of the "victory plan" and that he will present this plan to American President Joe Biden next month.

-> There is currently no sense of direction. However, if there is progress, there is room for risk assets to rise and safe assets to fall due to a decrease in geopolitical risk.

Regarding the super micro computer, short-selling investors pointed out the possibility of accounting issues and it was also disliked that the submission of the annual report (Form 10-K) was revealed to be delayed. As for the company itself, the financial results announced in early August were disappointing, and the stock price had dropped significantly at that time as well.

- US semiconductor giant NVIDIA (NVDA.O) estimated that its revenue for the third and fourth quarters (August-October) would be $32.5 billion (+/- 2%), which is in line with market expectations ($31.77 billion), and its stock price fell 6% in after-hours trading.

- The delay in filing the annual report (Form 10-K) for Super Micro Computer stocks is a concern, but NVIDIA's earnings are in line with the market, so there is not much to worry about. However,there are some doubts about whether the upward momentum will continue due to weak prospects, etc..

The Indian government lowered the import tax on gold from 15% to 6% in July this year, and shortened the holding period for long-term capital gains taxation on gold from 36 months to 24 months, with a tax rate reduction from 20% to 12.5%.

Crude oil futures fell sharply in trading on the morning of the 30th in New York. Reports that the Organization of the Petroleum Exporting Countries (OPEC) and non-member oil-producing countries, known as OPEC Plus, plan to implement the previously announced supply expansion for October to December (Q4) served as the catalyst.

->From the perspective of the Indian government's tax relaxationit is expected to have a positive effect in the medium to long term, but there is room for commodities to decline due to increased crude oil supply, etc.

- There is a possibility that Mt. Gox and the US government may exert a total additional selling pressure of about 15 billion dollars on the market, and the stagnation of Bitcoin's momentum may continue into September.

- Former President Trump announced in a post on his social media "X" on Thursday that he plans to position the United States as a leader in the field of cryptocurrency.

- Devin Finzer, CEO of the NFT electronic marketplace OpenSea, announced on the 28th that OpenSea has received a 'Wells Notice' from the US Securities and Exchange Commission (SEC). The SEC considers the NFTs traded on OpenSea as securities and has informed us that they may file a lawsuit," said Finzer.

→ Even if there is positive content about Trump,"Lawsuit against OpenSea" and "selling pressure from Mt. Gox and the US government".Therefore, it is expected that the upside will become heavy.