After the release of the non-farm payroll data, traders are betting that the Federal Reserve will cut interest rates by 50 basis points in September.
According to the report from JinShi, after the release of the non-farm payroll data, the US dollar index DXY gapped down by 40 points and is currently trading at 103.67. Additionally, traders have increased their bets on the Federal Reserve making a significant rate cut in the future. Traders are betting that the Federal Reserve will cut the interest rate by 50 basis points in September, as the unemployment rate rose to 4.3% in July.
