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CME FedWatch Shows 68.8% Odds of a Fed Rate Hike Ahead of May CPI Data Due at 20:30 UTC+8

CME FedWatch data shows a 0.688 probability of a Federal Reserve rate hike this year ahead of the May U.S. CPI release at 20:30 UTC+8. It assigns 0.431 odds to 25 basis points, 0.212 to 50, 0.042 to 75, and 0.003 to 100. Markets expect May CPI up 0.005 month over month and 0.042 year over year.
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