The Fed's interest rate hike refers to raising the deposit and loan interest rates of banks. The most direct impact of raising the deposit interest rate is to increase the deposit income of investors and the savings of banks, thus reducing the liquidity of the futures market to a certain extent, leading to the decline of futures. Therefore, the Fed's interest rate hike is bad for futures.

In addition, the products in the futures market will also be affected by domestic and international economic development, some weather and climate.

In the futures market, the subject matter of some products is agricultural products. When natural disasters occur, the output of agricultural products will decrease, but the demand will not change much, which will lead to insufficient supply and increase its price.

When the international economy is booming, trade is more active, which will lead to an increase in commodity demand, thus pushing up futures prices, and vice versa.

At the same time, the futures markets of various countries are also closely related. When the international futures market is on the rise, it will drive the domestic futures market to a certain extent, and vice versa.