Before the release of non-farm payroll data, the probability that the Fed will keep interest rates unchanged in May is 95.3%.

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in May is 95.3%, while the probability of a 25 basis point rate cut is 4.7%. The probability of the Fed keeping rates unchanged in June is 42.2%, the cumulative probability of a 25 basis point rate cut is 55.1%, and the cumulative probability of a 50 basis point rate cut is 2.6%.