U.S. Dollar Futures Firm

STOCK INDEX FUTURES

Stock index futures are lower as investors remain worried about slowing global economic growth.

Housing starts in July were 1.446 million when 1.599 million were expected and permits were 1.674 million when 1.650 million were anticipated.

The 8:15 central time July industrial production report is estimated to be up 0.3% and capacity utilization is predicted to be 80.1%.

Despite lower futures today and an ongoing hawkish tone to Federal Reserve officials’ comments, stock index futures have performed well in recent weeks.

CURRENCY FUTURES

The U.S. dollar remained firm after hawkish remarks from Federal Reserve officials. Several policymakers have pointed out that a dovish pivot is unlikely despite signs that inflation could be peaking.

The euro currency is lower due to increasing concerns over an economic slowdown in the euro zone.

The euro is moving closer to the key $1.00 dollar parity level after more data pointed to an economic downturn in the European region. The latest figures showed German investor morale fell in August.

The Japanese yen fell further away from a 1-month high hit on August 2, as investors sought safety in the greenback.

The unemployment rate in the U.K. was at 3.8% in the second quarter of 2022, as expected.

INTEREST RATE MARKET FUTURES

The  inverted Treasury yield curve continues to flash warnings of economic risks.

The minutes from the July 27 Federal Open Market Committee meeting will be released  tomorrow.

According to financial futures markets, there is a 57.5% probability that the Federal Open Market Committee will hike its fed funds rate by 50 basis points and a 42.5% probability that the rate will increase by 75 basis points at the September 21 policy meeting.

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