Explore Special Offers & White Papers from AFS

BoE May Be More Hawkish


The euro currency is higher despite news that European banks cut lending to businesses last month. The banks cut their lending to euro zone businesses by 3 billion euros in February, equivalent to $3.23 billion, while the increase in lending compared with a year ago slowed to 4.9% from 5.3% in January, according to data released by the European Central Bank. In addition, there was a slowdown in lending to households.

The British pound advanced after Bank of England Governor Andrew Bailey said further monetary tightening would be required if signs of persistent inflationary pressure became evident.

Retail sales in Australia increased 0.2% month-to-month in February 2023, beating market estimates of a 0.1% increase but slowing from a marginally revised 1.8% gain in the prior month.


Stock index futures are mixed.

Recent gains are linked to a better tone to the global banking sector.

The 9:00 central time March consumer confidence index is predicted to be 101.0. In February the index was 102.9.

The 9:00 March Richmond Federal Reserve manufacturing index is predicted to be -8.0.

At 9:00 Michael Barr, Vice Chair for Supervision of the Board of Governors of the Federal Reserve will deliver his prepared remarks before the House Financial Services Committee, which were released a day in advance.

Futures have held up well considering recent strains in the international financial system.


Futures are mixed.

However, underlying support remains due to the belief that central banks will not be able to keep raising interest rates for long.

The Treasury will auction five-year notes.

The technicals and fundamentals for futures have become more supportive since March 3.


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

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 Archer Financial Services

Get Started

Contact Us Today