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2025-08-01 23:48:24
[Weak US non-farm payroll data in July boosts expectations of a September rate cut by the Federal Reserve] Data from the US Bureau of Labor Statistics (BLS) showed that non-farm payrolls increased by 73,000 jobs in July, far below the 100,000 expected by economists from the Wall Street Journal. Employment data for May and June were significantly revised downward, with a total decrease of 258,000 jobs. The unemployment rate rose slightly from 4.1% to 4.2%, and the long-term unemployment rate climbed to 25%. The weak employment data pushed up market expectations for a September rate cut by the Federal Reserve. The Chicago Mercantile Exchange (CME) Federal Reserve Observer tool showed that the probability of a rate cut jumped from 38% to 67%. The US dollar index fell 0.7% to 99.287, and the euro rose 0.9% against the dollar to $1.1512. (Dow Jones)
