September rate-cut probability surges to 96%

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Summary

September probability of a rate cut rose to 96%.
U.S. slowing employment has raised the likelihood of a rate cut.
Bitcoin price was also reported to be up 0.81%.

The probability of a rate cut in September rose to 96%.

On the 3rd (local time), according to the Chicago Mercantile Exchange (CME) FedWatch, the likelihood that the U.S. Federal Reserve (Fed) will cut rates by 25bp in September rose to 96%.

The U.S. July job openings and labor turnover report suggested a slowdown in employment, increasing the likelihood of a rate cut. Earlier, the U.S. Bureau of Labor Statistics (BLS) announced that July job openings decreased from 7.36 million (revised) to 7.18 million.

Bitcoin is also on the rise. As of 12:04 PM, on the Binance USDT market, Bitcoin is trading at 112,260 dollars, up 0.81% from 24 hours earlier.