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

More strong US economic data this week, with Thursday bringing an unexpectedly strong revision:

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%:

This article was written by Eamonn Sheridan at Source