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Partial Recovery in the US Dollar



The U.S. dollar index bounced after falling to a 5-month low yesterday.

The greenback has been under pressure in recent weeks due to expectations that the Federal Reserve will start cutting rates earlier than other major central banks.

Lower prices are likely for the U.S. dollar longer term.

The Nationwide House Price Index in the U.K. declined by 1.8% year-on-year in December 2023, compared with market expectations of a 1.4% decrease. This marked the 11th straight consecutive month of decline in home prices.


$100 dollar bill


S&P 500, NASDAQ and Dow Jones stock index futures advanced to new record highs yesterday. However, prices are a little lower today.

The 8:45 central time December Chicago PMI is expected to be 50.0.

The fundamentals and technicals remain supportive to stock index futures.

Stock index futures are likely to close on a firm note today.



Futures are lower.

Financial futures markets are predicting there is a 16% probability that the Federal Open Market Committee will reduce its fed funds rate by 25 points at its January 31, 2024  policy meeting and an 84% probability of no change.

However, financial futures markets are currently suggesting the Federal Open Market Committee will reduce its fed funds rate by 25 basis points at its March 20, 2024 policy meeting.

Higher prices are likely for futures in January.

Interested in more futures markets?  Explore our Market Dashboards here.

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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.

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