BlockBeats News, August 3rd, This week, the U.S. added only 73,000 non-farm jobs in July, far below expectations, and the data for June and May were significantly revised downward. Additionally, Federal Reserve Board Member Cugler will resign next week, allowing Trump to appoint a favored candidate early.
Perhaps influenced by the above news, the probability of a 25 basis point rate cut by the Federal Reserve in September surged to 80.3% on the CME "FedWatch" tool. Before the non-farm payroll data, this number was only 41.3%.
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