Before the non-farm payroll announcement, the probability of the Federal Reserve cutting interest rates in September exceeded 90%.

According to CME "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in July is 76.7, and the probability of a 25 basis point cut is 23.3%. The probability of the Federal Reserve keeping interest rates unchanged in September is 4.9%, the probability of a cumulative 25 basis point cut is 73.3%, and the probability of a cumulative 50 basis point cut is 21.8%. The US "small non-farm" data released on Wednesday night unexpectedly recorded negative values, and the US non-farm employment data will be released soon.