No alcohol smell? Then it’s probably your hub seal leaking.
Could be wheel bearing grease.
Maybe it’s blinker fluid… just kidding. I’ve had similar issues with my Fusion. The wheel bearings on some Fords wear out around 100,000 miles.
It might just be dirt on the wheel. Clean it off and see if it comes back. If it does, then there’s an issue. Otherwise, it’s probably just something from the road.
Could be brake fluid, CV axle, strut, or a bearing. Take a closer look to find the source. And replace those bald tires. Driving on them is dangerous.
You really need to replace those tires.
It might be a split CV boot on the inside drive axle.
You really need new tires. They’re in bad shape.