Heavy Slate of Fed Speakers Today


Market participants will closely monitor comments from Federal Reserve officials this week. Federal Reserve speakers today are John Williams at 7:00, Michelle Bowman at 8:20, Tom Barkin at 9:45 and Neel Kashkari at 4:00.

Federal Reserve Chair Powell will speak before the Economic Club of New York on Thursday.

Recent dovish comments from Federal Reserve officials reduced expectations of another interest rate hike this year.

Financial futures markets are now predicting there is a 90% probability that the Federal Open Market Committee will keep its fed funds rate unchanged and only a 10% probability of a 25 basis point increase at its November 1 policy meeting.


The U.S. dollar was lower in the overnight trade. However, there is some support from the stronger than expected U.S. retail sales report.

In recent days there appears to be only a limited flight-to-quality flow of funds into the greenback.

The ZEW Indicator of Economic Sentiment for Germany improved by 10.3 points from the previous month to hit -1.1 in October 2023, which is significantly stronger than market expectations of -9.3.

Average weekly earnings, including bonuses in the U.K. increased 8.1% year-on-year in the three months to August of 2023, which is the lowest in three months, and below market forecasts of an 8.3% increase.

The hawkish minutes from the recent Reserve Bank of Australia’s policy meeting supported the Australian dollar.


Recent strength in stock index futures was primarily due to prospects of a less hawkish Federal Reserve. However, gains are being limited by concerns about an escalation of the war in the Middle East.

Retail sales in September increased 0.7% when up 0.3% was expected.

The 8:15 central time September industrial production report is anticipated to be unchanged and capacity utilization is predicted to be 79.6%.

The 9:00 August business inventories report is estimated to show a 0.3% increase, and the 9:00 October housing market index is forecast to be 45.


Interested in more futures markets?  Explore our Market Dashboards here.

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now