After strong US data on Thursday the probability of an FOMC July rate hike is nearly 90%

<p>More strong US economic data this week, with Thursday bringing an unexpectedly strong revision:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-the-strong-us-data-continues-20230629/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: The strong US data continues</a></li></ul><p>The current Fed Funds target rate is 5 – 5.25%, though probably not for much longer according to the CME FedWatch Tool. 30-Day Fed Funds futures pricing data implies, with a near 90% probability, a move up to 5.25-5.5%:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.