Forget Logos - Fed Funds Futures Are Unwinding Taper Bets 30 DAY FEDERAL FUNDS FUTURES (DEC 2022) CBOT:ZQZ2022 RichDvorakFX There is a lot of chatter around TradingView's new logo, but I've been ignoring the noise while continuing to utilize their incredible charting platform. After all, do company logos really matter? I reckon providing a superior product is far more important. At any rate, when I was scanning through my ticker symbol watchlist on TradingView this morning, I came across this chart of Dec 2022 Fed Funds Futures CBOT:ZQZ2022 and thought I'd share. A clear uptrend has formed over the last few sessions as you can see. What does this mean? The price of a Fed Funds futures contract is calculated by taking 100 minus the average effective federal funds rate for the given contract month. As such, a higher Fed funds futures contract price indicates that interest rate expectations are falling (and vice-versa). With recent market angst surrounding the delta covid variant arguably giving FOMC officials enough justification to stay cautiously dovish and drag their feet on tapering asset purchases, it thus appears that traders are unwinding Fed rate hike bets. If this recent trend continues, it could pose a headwind for the broader US Dollar TVC:DXY . I discussed this scenario of potential US Dollar weakness on DailyFX yesterday. Check out my full analysis at this link here https://www.dailyfx.com/forex/market_alert/2021/07/20/us-dollar-outlook-usd-might-weaken-if-covid-fears-abate.html.