Mitsubishi UFJ: Weak non-farmers may prompt the Federal Reserve to cut interest rates more than expected
2025-09-01 11:15:41
Lee Hardman, an analyst at Mitsubishi UFJ, said in a note that if Friday's US non-farm payrolls data is much weaker than expected, the dollar could fall further. He pointed out that another weaker-than-expected jobs report will strengthen market expectations, prompting the Federal Reserve to resume interest rate cuts at its September meeting, and may cut interest rates by 50 basis points in one go. The data show that the market generally expects interest rate cuts of 25 basis points this month, and the cumulative reduction of interest rates by September next year will exceed 100 basis points. Unless the non-farm payrolls data is significantly better than expected, it will be difficult to dispel market expectations that the Federal Reserve will cut interest rates in September.
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