Markets anticipate price hike ‘skip’ at FOMC assembly

Fast Take

• The U.S. Shopper Value Index (CPI) report is due at 08:30 ET today and can affect the end result of the FOMC assembly tomorrow.
• April’s year-over-year CPI got here in at 4.9%. Might’s is forecasted to return in at 4.0%.
• Might’s year-over-year core CPI is forecasted to return in at 5.3%. This metric refers to CPI much less unstable parts, together with meals and gasoline.
• Presently, markets are 79% in favor of a price hike “skip” following tomorrow’s FOMC assembly.
• The present U.S. Fed Funds Fee is 5.00-5.25.

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