Fed Rate Hike Probabilities Ahead of ADP Data Release

According to the CME FedWatch Tool, the probability of the Federal Reserve maintaining current interest rates in September stands at 33.8%, while the probability of a 25 basis point hike is 66.2%. For October, the probability of holding rates steady is 24.1%, with a 56.9% chance of a 25 basis point hike and a 19.1% chance of a 50 basis point hike.