Stock index futures were higher in the overnight trade with Dow Jones futures advancing to a new record high.
There are no major economic reports scheduled for today
The main trend for stock index futures is higher.
The U.S. dollar firmed after Federal Reserve Bank of New York President William Dudley said the Fed plans on tightening monetary policy “very judiciously.” In addition, he said he is very confident the expansion has “a long ways to go.”
We expect these early gains in the greenback will be given back later today and, in the longer term, we anticipate the U.S. dollar will underperform.
The euro currency is lower after a report said euro zone construction output increased 3.2% on a year to year basis in April, which compares to the 3.8% annualized rate reported in March.
The Japanese yen is lower after a report showed Japanese exports increased 14.9% in May, when an 18.2% increase was expected by economists. In spite of the weaker than predicted report, Japan's exports logged their biggest gains since January of 2015 and the sixth consecutive month of increases.
The Australian dollar is lower after Moody’s downgraded ratings on several Australian banks.
However, the pressure on the currency of Australia was limited when the Reserve Bank of Australia governor said Australia's economy will grow a little faster in coming years than it has recently.
Futures came under pressure earlier this morning due to hawkish comments from Dudley of the Federal Reserve.
At 6:00 this evening President of the Federal Reserve Bank of Chicago Charles Evans will speak about the economy.
The probability that the Federal Open Market Committee will increase its fed funds rate at the December 13 meeting is 50%, which compares to 46% on Friday.
September 17 S&P 500
Support 2429.00 Resistance 2445.00
September 17 U.S. Dollar Index
Support 96.630 Resistance 97.110
September 17 Euro Currency
Support 1.12160 Resistance 1.12780
September 17 Japanese Yen
Support .90090 Resistance .90660
September 17 Canadian Dollar
Support .75460 Resistance .75880
September 17 Australian Dollar
Support .7569 Resistance .7628
September 17 Thirty Year Treasury Bonds
Support 155^0 Resistance 156^6
August 17 Gold
Support 1246.0 Resistance 1260.0
July 17 Copper
Support 2.5550 Resistance 2.5950
August 17 Crude Oil
Support 44.31 Resistance 45.55
For more information about these markets, please contact Alan at 312.242.7911 or via email at firstname.lastname@example.org. Thank you.
Would you like to open an account with us? Go to our interactive New Account application at Open an Account. It is fast, saves on postage and it’s green.
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 risk of loss in trading futures and options can be substantial. The views and opinions expressed in this letter are those of the author and do not reflect the views of ADM Investor Services, Inc. or its staff. Research analyst does not currently maintain positions in the commodities specified within this report. 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.
Contact Us Today
Get free guides and special offers in the Resource Center.
© 2017 Archer Financial Services, Inc.
This is not a solicitation of any order to buy or sell, but merely a collection of information related to Archer Financial services and commodities trading provided by Archer Financial services. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor do they purport to be complete. No responsibility is assumed with respect to any such element, nor with respect to any expression of opinion herein contained.
The risk of loss in trading futures and options on futures can be substantial. Each investor must carefully consider whether this type of investment is appropriate for them. Past performance is not necessarily indicative of future results.