US Employment Data Reduces Fed Rate Cut Expectations

US Employment Report Delayed

The United States Department of Labor (BLS) announced that the October employment report has been canceled due to the government shutdown. It was also stated that the unemployment figures for November will be published after the Federal Reserve's (Fed) meeting in December.

Rate Cut Expectations Decrease

The likelihood of a December Fed rate cut, which has been much discussed, has dropped from around 100% three weeks ago to only 33% now. This situation has also affected investors' stance in the markets.

Market Volatility

The US stock markets retraced significant early gains due to these news, and a decline in cryptocurrency prices was also observed.