Before the non-farm payroll data release, the probability of the Fed keeping interest rates unchanged in June was 96.4%

According to CME "FedWatch": As of June, the probability of the Fed keeping interest rates unchanged is 96.4%, with a 3.6% probability of a cumulative 25-basis-point rate cut. The probability of the Fed keeping interest rates unchanged through July is 88.5%, with an 8.2% probability of a cumulative 25-basis-point rate hike and a 3.2% probability of a cumulative 25-basis-point rate cut.