The latest economic report shows that the U.S. economy performed better than market expectations, which has drawn investors' attention ahead of Fed Chairman Powell's important speech at the Jackson Hole annual meeting.

Recently released data on the U.S. Purchasing Managers' Index ( PMI ) exceeded expectations, driving the dollar exchange rate up. This strong performance prompted market participants to reassess their expectations for future Fed interest rate cuts.

Market analysts have pointed out that these positive economic indicators may influence Powell's stance in his upcoming speech. The investment community is closely watching whether Powell will emphasize the recent weak employment data more, or focus on the relatively stable labor market slack indicators along with the consistently robust economic activity and inflation data.

As the Jackson Hole annual meeting approaches, market sentiment has become increasingly cautious. Investors are weighing the potential impact of this new economic data on the Fed's monetary policy while also awaiting Powell's speech, hoping to gain more clues about the future economic direction and policy stance.

This series of events highlights the complexity of the current global economic situation and reflects the market's ongoing attention to the resilience of the U.S. economy. Regardless of the content of Powell's speech, it could have a significant impact on the financial markets and set the tone for economic expectations for the foreseeable future.