Explore Special Offers & White Papers from ADMIS

Fed Chair Powell Testifies

Download PDF


The 8:45 central time June Chicago PMI is expected to be 44.5 and the 9:00 June consumer confidence index is anticipated to be 90.

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will testify before the House Financial Services Committee at 11:30.

Stock index futures will be supported by the belief that any slowdown in the global economic recovery will be met with additional accommodation from the world’s central banks, along with more fiscal stimulus.


The U.S. dollar advanced to its highest level since June 3, as interest rate differential expectations have recently turned slightly more favorable to the U.S. dollar.

The euro currency is lower despite news that the euro zone June CPI estimate was +0.3% when the CPI forecast was +0.1%.

The Canadian dollar is higher on news that Canada’s real gross domestic product declined less than estimated in April.  GDP dropped 11.6% in April, which was slightly better than the market expectation for a fall of 13%.

The Australian dollar is lower after the Reserve Bank of Australia indicated it is ready to scale up its government bond purchases if the economy weakens further.


Other Federal Reserve speakers today are Raphael Bostic at 1:00 and Neel Kashkari at 1:00.

According to financial futures markets there is a 95.6% probability that the Federal Open Market Committee will leave its fed funds rate unchanged at zero to 25 basis points at its July 29 policy meeting.

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 Special Offers & White Papers from ADMIS

Get Started