Will a 25bp interest rate increase be the Christmas gift from the FOMC?

The ‘FedWatch’ tool is based on the probabilities of changes to the Fed Funds rate and U.S. monetary policy, as implied by 30-Day Fed Funds futures pricing data.

Despite skyrocketing PPI and higher-than-expected CPI data this week the pricing for November remains firmly on hold:

However, pricing has crept up for the chance of a rate hike at the Christmas meeting (well, December 13):

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