Futures edge up on rate cut hopes; Fed speakers awaited

U.S. stock index futures inched higher on Monday as expectations that the Federal Reserve was done with its interest rate hikes gained steam ahead of commentary by a slew of policymakers later in the week.


Wall Street’s main indexes posted their best weekly performance in about a year on Friday, boosted by tumbling U.S. Treasury yields as a weaker-than-expected monthly payrolls report spurred hopes that the Fed could start cutting rates next year.

Traders‘ bets that the Fed will hold interest rates steady in December stand at 90%, while pricing in an about 80% chance the first policy easing would come as soon as June, according to the CME Group’s FedWatch tool.

Such expectations will be put to the test this week with a raft of Fed policymakers, including Chair Jerome Powell due to speak in the coming days.

Other speakers include voting members such as Federal Reserve Board Governor Lisa Cook, New York Fed President John Williams and Dallas Fed President Lorie Logan.

This article was written by Ryan Paisey at www.forexlive.com.

Go to Forexlive

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