In the upcoming week, the financial markets will witness several key moments, and these events could significantly impact the Federal Reserve's decisions.

First, at 1 a.m. on Thursday, the auction of 20-year U.S. Treasury bonds will attract market attention. The results of this auction may significantly affect the U.S. bond yield curve, thereby influencing overall market sentiment.

Following closely, at 2 AM, the Federal Reserve will release the minutes of the July monetary policy meeting. This document will reveal the key discussion points among decision-makers during the last meeting, particularly their reasons for maintaining the current interest rate level and their views on future policy direction. Notably, two officials supported a rate cut during the last meeting, making the content of this minutes particularly noteworthy.

On the same evening, the market will also welcome the release of initial jobless claims and the Purchasing Managers' Index (PMI) data. These indicators will provide important references for assessing the current economic situation.

At 10 PM on Friday night, investors' attention will be focused on the Jackson Hole Global Central Bank Annual Meeting. Federal Reserve Chairman Powell will deliver a speech at the event, and the market widely anticipates that he will provide a clear signal regarding the possibility of an interest rate cut in September.

The cumulative effects of these events may have a profound impact on the financial markets. Investors and analysts will closely monitor this data and the speeches to assess the health of the U.S. economy and the future direction of monetary policy. Regardless of the outcome, next week will undoubtedly be a critical period for determining the short-term market trends.