There is a 97.7% probability of the Federal Reserve cutting interest rates by 25BP in November.

According to CME's 'FedWatch': The probability of the Fed lowering 25 basis points by November is 97.7%, and the probability of maintaining the current Interest Rate is 2.3%. By December, the probability of keeping the current Interest Rate unchanged is 0.6%, the cumulative probability of a rate cut of 25 basis points is 27.7%, and the cumulative probability of a rate cut of 50 basis points is 71.7%. (FXStreet)