Before the release of non-farm payroll data, the probability of the Federal Reserve cutting interest rates in May continued to climb to 39.9%.

According to the CME "Fed Watch" data, the probability of the Federal Reserve maintaining interest rates unchanged in May is 60.1%, and the probability of reducing interest rates by 25 basis points is 39.9%. The probability of the Federal Reserve maintaining interest rates unchanged in June is 0, the probability of a cumulative rate cut of 25 basis points is 53.2%, and the probability of a cumulative rate cut of 50 basis points is 42.2%.