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CME FedWatch Tool shows 89% chance of a 25 bps rate cut in July

2019-06-20 02:20

According to the CME Group's FedWatch Tool, following the FOMC's dovish monetary policy statement, markets are now pricing an 88.9% probability of a 25 basis points Fed rate cut in July compared to 68.5% seen on Tuesday. The odds of the Fed making two 25 basis points rate cuts by September is now 71.3% vs 50.6% yesterday.

The heightened probability of the rate cuts seems to be weighing on the greenback. Following the initial drop to a session low of 97.10, the US Dollar Index recovered modestly and was last seen down 0.4% on the day at 97.25 as investors are now waiting for Chairman Powell to deliver his remarks on the policy outlook.

This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

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