Market Bets Over 50% Chance of Two Fed Rate Hikes This Year Ahead of Non-Farm Payrolls

Traders are pricing in a greater than 50% probability of two Federal Reserve interest rate hikes this year, according to the CME FedWatch Tool. This sentiment comes ahead of the U.S. non-farm payroll data release this Friday, which is expected to serve as a critical indicator for the Fed's upcoming interest rate decisions.