Radio emissions from shock waves at the leading edge of the CME suggest an expansion velocity near 2000 km/s or 4.4 million mph. If such a fast-moving cloud did strike Earth, the resulting geomagnetic storms could be severe. However, because its trajectory is so far off the sun-Earth line, the CME will deliver a glancing blow, at best, and probably no blow at all.
The source of the eruption is long-lived sunspot AR1967, now beginning its third trip across the Earthside of the sun. This region was an active producer of flares during its previous transits, and it looks like the third time will be little different. By tradition, sunspots are renumbered each time they return, so AR1967 will soon have a new designation. (Update: The new name of this sunspot is AR1990.) www.spaceweather.com