The lack of data has exacerbated the internal divisions of the Federal Reserve, and the probability of staying put in December has risen sharply

The gap in US employment data will extend beyond the Federal Reserve's December meeting, adding to policy uncertainty and significantly raising the possibility of a pause in interest rate cuts. Although the Bureau of Labor Statistics will release September non-farm payrolls data on Thursday, it has made it clear that the next data release will not be until December 16 - when the full November data set will include some data for October. The Fed's December policy meeting ends on the 10th Eastern Time. Meanwhile, the latest Fed meeting notes for October show that officials are deeply divided on whether to cut interest rates for the third time in a row. Against this backdrop, the CME Fed Watch tool shows that the probability of the December meeting staying put has risen from about 50% previously to nearly 70%.