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US Dollar Remains Firm

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Personal income in May was down 4.2%, which compares to expectations of a 6.6% decline. Consumer spending was up 8.2% when a gain of 8.6% was anticipated.

The 9:00 central time June consumer sentiment index is estimated to be 78.9.

Stock index futures will be supported by the belief that any slowdown in the global economic recovery will be met with additional accommodation from the world’s central banks along with more fiscal stimulus.


The U.S. dollar is higher with safe-haven demand supporting the greenback.

The euro currency is lower despite news that the annual growth rate of the broad monetary aggregate M3 in the euro zone increased to 8.9% in May 2020 from 8.2% in April.

Interest rate differential expectations have recently turned slightly more favorable to the U.S. dollar.


The yield on the 10-year U.S. Treasury note edged down to 0.670%, from 0.674% Thursday.

According to financial futures markets there is a 97.8% probability that the Federal Open Market Committee will leave its fed funds rate unchanged at zero to 25 basis points at its July 29 policy meeting.

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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