Hurricane possible for Fourth of July

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IN SPACE - JULY 1: In this handout from the National Oceanic and Atmospheric Administration (NOAA), a tropical depression moves off the coast of Florida July 1, 2014. (Photo by NOAA via Getty Images)

(CNN) –– The National Hurricane Center may be dialing up a hurricane just in time for the nation’s birthday.

The center said Tuesday that a low-pressure area about 95 miles southeast of Cape Canaveral, Fla., has formed into a tropical storm. As the first storm of the season, it has been dubbed Arthur.

A tracking map shows the system on July 4 as a weak Category One hurricane, just off North Carolina’s Outer Banks.

The rains could put a damper on holiday activities from the Carolinas to the Northeast, and stir up dangerous rip currents.

The system should clear out by the weekend, forecasters say.

Florida can expect heavy rain on Tuesday and Wednesday, with accumulations of 1 to 3 inches typical, and up to 5 inches in some areas.

The Bahamas could see up to 6 inches.

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