Non-farm payroll data significantly exceeded expectations, prompting traders to reduce their bets on a Fed rate cut.
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According to ME News, on February 11 (UTC+8), US short-term interest rate futures fell after the release of the January non-farm payroll report. Traders now estimate the probability of a Federal Reserve rate cut before April at only 20%, a significant decrease from approximately 40% before the data release. While they still bet on the Fed cutting rates again in June, they believe the probability of holding rates steady at that time has risen to nearly 40%, compared to about 25% before the jobs report. (Source: ME)
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