Explore Special Offers & White Papers from ADMIS

Hawkish Fed Comments Continue


Stock index futures are lower due to hawkish comments from Federal Reserve officials.

Federal Reserve Building

Philadelphia Fed President Patrick Harker was among the latest policymakers to underscore the U.S. central bank’s intention to tighten monetary policy, saying interest rates will likely increase “well above 4.0%” this year and then hold them at restrictive levels.

There are no major economic reports scheduled for today.


The U.S. dollar index is higher due to firming U.S. interest rates.

The euro currency is lower despite the belief that the European Central Bank at its policy meeting on October 27 will hike its key lending rate by 75 basis points.

U.K. retail sales fell for the second month in a row in September, declining 1.4% in real terms.

Japan’s overall consumer inflation increased 3.0% from a year earlier in September, exceeding the Bank of Japan’s 2.0% target for six consecutive months. The figure matched a 3.0% annual increase in August.

The Japanese yen fell to new lows against the U.S. dollar.


Futures are higher at the front of the yield curve and lower at the long end of the curve.

The U.S. 10-year Treasury yield approached the 4.3% mark, which is the highest since June 2008.

John Williams of the Federal Reserve will speak at 8:10.

According to financial futures markets currently, there is a 95.0% probability that the Federal Open Market Committee will increase its fed funds rate by 75 basis points at the November 2 policy meeting and a 5.0% probability that the rate will be hiked by 50 basis points. This compares to in the overnight trade an almost 100.0% probability of a 75 basis point hike.


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 Special Offers & White Papers from ADMIS

Get Started