The Dollar Gives Back Gains


The U.S. dollar index gave back almost all of yesterday’s gains. There was support for the greenback last week due to a series of hawkish comments from Federal Reserve officials.

Investor morale in the euro zone improved in April after a surprise decline in March. The current conditions increased to the highest level in more than a year.

There is underlying support for the euro currency due to expectations the European Central Bank will keep raising interest rates in the coming months to combat inflation.

Australian consumer sentiment improved more than expected in April. The Westpac-Melbourne Institute consumer sentiment index jumped 9.4% to 85.8 in early April, which is more than expectations for an increase of 1.5%.


Stock index futures are mixed, as the focus shifts to inflation data and earnings.

The  National Federation of Independent Business (NFIB) small business optimism index edged lower to a three-month low of 90.1 in March of 2023 from 90.9 in February. This marks the 15th  consecutive month the index was below its 49-year average of 98, as small business owners are worried about future economic conditions.

This is a big week for inflation reports. The March consumer price index will be released tomorrow and is anticipated to show a 0.3% increase. Thursday’s March producer price index is  predicted to be unchanged.

Stock index futures have performed very well considering recent strains in the international financial system and recent hawkish comments from Federal Reserve officials.


Futures are mixed.

The Treasury will auction three-year notes.

Underlying support for futures remains due to the belief that central banks will not be able to keep raising interest rates much longer.

The technicals and fundamentals for futures turned supportive in early March.


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