Global markets do not like uncertainty.

The unemployment rate in the US was announced as 4.2%, as expected. A positive development.

Uncertainty increased with the non-farm payrolls data coming in below expectations.

According to Bloomberg, near-term indicators show that the US is unlikely to face an economic recession in the short term.

It is a matter of curiosity what action the FED will take on September 18. It is almost certain that interest rate cuts will begin this month.

The probability of the FED cutting interest rates by 25 basis points is currently 70%.

✒️Berke Oktay