After the number of job vacancies in the United States decreased, traders increased their bets on the Federal Reserve cutting interest rates

Federal Reserve interest rate futures traders increased their bets on further Fed rate cuts on Tuesday, following a government report showing a decrease in job vacancies last month, which could be a sign of further cooling in the employment market.

Interest rate futures contracts show that traders' confidence in the Fed cutting rates by 25 basis points at each of its next two meetings and further cuts next year is growing. Traders have reduced their bets on a pause in rate cuts in November to around 2%.