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The probability of a 50 basis point rate cut by the U.S. Federal Reserve has more than doubled among traders following Friday's weak payroll data. Nonfarm payrolls for July were 114,000, well below the consensus of 177,000 and the lowest since January 2021. In addition, the unemployment rate jumped to 4.3%, up from 4.1%.
The upcoming meeting, slated for September 18, 2024, has seen a significant shift in probabilities. A target rate of 4.75 - 5.00, 50 bps below the current rate, now has a curre...
>>> Read more: Probability of 50 bps rate cut more than doubled after payroll data
The upcoming meeting, slated for September 18, 2024, has seen a significant shift in probabilities. A target rate of 4.75 - 5.00, 50 bps below the current rate, now has a curre...
>>> Read more: Probability of 50 bps rate cut more than doubled after payroll data
