The U.S. economic data for August has been released one after another, and traders have raised the probability of the Federal Reserve cutting interest rates by 50 basis points in September to 39%.
The Odaily Planet Daily Report released today shows that the US economy continues to contract. According to the Federal Reserve data from the Chicago Mercantile Exchange (CME), the likelihood of a 50-basis-point rate cut by the Federal Reserve in September has increased from 30% the previous day to 39% due to the weak data. However, the hot bet is still for a 25-basis-point cut, at 61%. The main event in US macroeconomic news remains the August employment report on Friday, which may also be the final factor in the Federal Reserve's decision to raise rates by 25 or 50 basis points. Economists forecast that job positions will rebound from 114,000 in July to 160,000. The unemployment rate is expected to decline from 4.3% to 4.2%. (Coindesk)
