Safe-Haven Flow of Funds Today

INTEREST RATE MARKET FUTURES

Safe-haven buying is supporting futures across the board today.

Federal Reserve speakers today are Lorie Logan at 8:00 central time and Philip Jefferson at 11:50.

Chicago Federal Reserve Bank

The Federal Reserve’s target range for the fed funds rate is 5.25% to 5.50%.

Financial futures markets are predicting there is a 78% probability that the Federal Open Market Committee will keep its fed funds rate unchanged and a 22% probability of a 25 basis point increase at its November 1 policy meeting.

STOCK INDEX FUTURES

On Friday S&P 500 futures rallied above a steep downtrend line.

However, stock index futures declined today in light of renewed Mideast tensions.

There are no major economic reports scheduled for today.

CURRENCY FUTURES

Flight to quality buying is supporting the U.S. dollar and the Japanese yen due to renewed Mideast tensions.

The greenback peaked on October 3 when there were reports that the Bank of Japan intervened in foreign exchange markets to support the yen by selling U.S. dollars and buying yen.

Industrial production in Germany declined 0.2% month-over-month in August 2023, compared with market forecasts of a 0.1% drop and after a downwardly revised 0.6% decline in the previous month.

 

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.

© 2024 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