Before the nonfarm payrolls data release, the probability of the Fed keeping interest rates unchanged in June is 96.9%

According to CME's "FedWatch" before the nonfarm payrolls data release: The probability of a 25-basis-point rate cut by the Fed in June is 3.1%, while the probability of keeping rates unchanged is 96.9%. By July, the probability of a cumulative 25-basis-point rate cut is 9.1%, the probability of keeping rates unchanged is 90.7%, and the probability of a cumulative 50-basis-point rate cut is 0.2%.