Rangebound price action as traders await the key US jobs data — TradingView News
Fundamental Overview
The uncertainty about a December cut has been putting a lid on further stock market gains. The probability for a December cut is now a bit below 50%. It’s still basically a 50/50 chance, but we will likely need soft labour market or inflation data to get the Fed to cut at the upcoming meeting.
In fact, there’s a strong debate within the FOMC whether a December cut is warranted at this point. The data will have the final say, and the decision maker will likely be the November NFP expected to be released in the first week of December just a few days before the FOMC meeting.
Strong data is likely to weigh on the market on a further hawkish repricing, while soft data should give the market a boost as rate cut bets…
