According to Odaily, the latest US non-farm employment data has come in weaker than expected, prompting speculation about more significant rate cuts. The market currently anticipates a 20% chance that the European Central Bank (ECB) will cut rates by 50 basis points at its September meeting, with a 70% likelihood of a 25 basis point cut in October.

Swap contracts indicate that the market expects the Federal Reserve to implement multiple 50 basis point rate cuts. There is a 75% probability of a 50 basis point cut in September, a 60% chance in November, and a 15-20% likelihood in December.