Traders believe there is a 60% chance that the Federal Reserve will cut interest rates by 25 basis points within a week

News on August 5th, the risk sentiment is rapidly changing, and traders believe there is a 60% chance that the Federal Reserve will urgently cut interest rates by 25 basis points within a week. As U.S. stock index futures move away from their lows, selling has slightly stalled but remains in a downward trend. This is an obvious sign of market panic because the Fed kept interest rates unchanged at its most recent meeting and Powell indicated that they might discuss rate cuts at the September meeting. Chicago Fed Chairman Charles Evans will speak before US stocks open. After weaker-than-expected U.S employment data was released, he stated that the Federal Reserve would not overreact to any report but would find out the "through line" of data and act in a "stable" manner.