U.S. Non-Farm Payroll Beats Expectations with 172K Increase; Fed Rate Hike Probability Surges to 63%

According to Jin10 Futures night market summary, the U.S. added 172,000 non-farm jobs in May, significantly exceeding market expectations of 85,000. The unemployment rate held steady at 4.3% for the second consecutive month as expected.

Following the jobs data release, market pricing shifted sharply. U.S. interest rate futures now show a 63% probability of a Federal Reserve rate hike in December, up from 48% previously. Meanwhile, OPEC crude oil production fell to a 37-year low in May, declining by 1.22 million barrels to 16.33 million barrels per day, as U.S. sanctions on Iran and regional instability continued to suppress output.