Before the nonfarm payroll release, the probability of the Fed keeping interest rates unchanged in June was 96.9%

Before the release of the nonfarm payroll data, according to CME's "FedWatch": the probability of the Fed cutting interest rates by 25 basis points in June is 3.1%, while the probability of keeping rates unchanged is 96.9%. The probability of a cumulative 25 basis point rate cut by July is 9.1%, the probability of keeping rates unchanged is 90.7%, and the probability of a cumulative 50 basis point cut is 0.2%.