Explore Special Offers & White Papers from ADMIS

Powell Testifies to Congress This Week


Stock index futures are mixed to lower.

There are no major economic reports scheduled for today.

Federal Reserve Chairman Jerome Powell will deliver his semiannual testimony to Congress on Wednesday and Thursday at 9:00 central time.

The fundamentals are mostly bullish, while and technicals remain supportive to stock index futures.

fed reserve


The U.S. dollar index is a little higher. The greenback is likely to remain firm is advance of Powell’s likely hawkish on balance testimony to Congress.

Interest rate differentials remain supportive to the greenback longer term.

The annual inflation rate in Switzerland edged lower to 1.2% in February 2024 from 1.3% in the prior month, and compared to forecasts of 1.1%.

The Bank of Canada and the European Central Bank are both scheduled to announce their policy decisions this week. Forecasts suggest the BoC will likely keep its key interest rate  steady at 5.00% on Wednesday, and the ECB is expected to do the same and keep its key interest rate at 4.50% on Thursday.

Australian job advertisements resumed their decline in February after two months of gains. job advertisements fell 2.8% in February from January.


Patrick Harker of the Federal Reserve will speak at 10:00 central time.

Futures are likely to come under pressure in advance of Powell’s likely hawkish on balance testimony to Congress.

Financial futures markets are predicting there is a 3.0% probability that the Federal Open Market Committee will lower its fed funds rate by 25 basis points at the March 20 meeting, and there is a 97% chance that the Fed will keep rates unchanged.

The fundamentals and technicals remain bearish on balance for futures.


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