Rate cut expectations rise as the US dollar remains weak amid multiple bearish factors

BlockBeats News, December 4, the US dollar remained weak after hitting a five-week low in the previous trading session, as US data and news regarding the next Federal Reserve chair boosted expectations of a rate cut ahead of next week's rate decision.

On Wednesday, the ADP private sector employment report came in weaker than expected, while ISM services data showed easing price pressures. These data were released after Trump hinted he would nominate Hassett as the next Federal Reserve chair.

According to LSEG data, the market is pricing in an 85% probability of a Federal Reserve rate cut in December.