CME FedWatch data shows a 72.8% probability that the Federal Reserve will deliver a 25 basis point rate hike in December, with only a 27.2% chance of rates remaining unchanged. The market pricing comes ahead of the release of U.S. October nonfarm payrolls on November 6. Looking further out, the odds of cumulative policy tightening through January stand at 63.4% for a single 25 bps increase and 15.1% for a combined 50 bps hike, while the probability of no change at all through January is just 21.6%.