What Is OMFG

On August 26, Revolut began a phased rollout of its first euro stablecoin, EURR, to eligible customers in Denmark, Poland, and Portugal. EURR is issued by Bridge, a subsidiary of Stripe, and will be integrated into Revolut's retail application.

On August 26, Revolut began a phased rollout of its first euro stablecoin, EURR, to eligible customers in Denmark, Poland, and Portugal. EURR is issued by Bridge, a subsidiary of Stripe, and will be integrated into Revolut's retail application.

On August 26, at 20:30 Beijing time, the U.S. Department of Commerce will release the Personal Consumption Expenditures (PCE) price index for July. The market expects the overall PCE to rise by 0.1% month-on-month, with the year-on-year increase dropping from 3.7% in June to 3.6%; the core PCE is expected to rise from 0.1% to 0.2% month-on-month, maintaining a year-on-year rate of 3.3%, marking the 65th consecutive month above the Federal Reserve's 2% inflation target. Notably, rising prices in the AI industry chain, high valuations in the stock market driving up portfolio management fees, and increased energy costs due to the situation in the Middle East could all be potential drivers of core inflation. Goldman Sachs predicts that stock market valuation factors alone could contribute approximately 0.11 percentage points to the month-on-month increase in core PCE for July. The market is particularly focused on the U.S. Bureau of Economic Analysis's plan to comprehensively adjust PCE statistical methods at the end of September, which may lead to adjustments in price calculations for categories such as computer hardware, stock portfolio management, and legal services, and could potentially revise historical data, complicating the interpretation of inflation data. Currently, there is increasing divergence in the market regarding the Federal Reserve's policy path for September. The CME FedWatch Tool indicates a 59.9% probability that the Federal Reserve will keep interest rates unchanged in September, while the probability of a 25 basis point rate hike has risen to 40.1%. The market is also awaiting this week's Jackson Hole annual meeting for the latest signals from Fed Chair Powell regarding inflation and subsequent interest rate policies.