STIR: Hassett Rally Partly Pared, Pre-Thanksgiving Claims Data In First Focus
Nov-26 11:30
- US rates have given back some of yesterday’s rally for 2026/27 contracts although the impact still holds from NEC’s Hassett being reiterated as frontrunner for Fed Chair considerations (per Bloomberg sources) as we draw nearer to an expected announcement before Christmas.
- Fed Funds implied rates are near unchanged on the day ahead of a data-focused docket, including weekly jobless claims brought forward for Thanksgiving.
- Cumulative cuts from 3.88% effective: 20.5bp Dec, 28bp Jan, 36.5bp Mar, 45bp Apr and 61bp Jun.
- SOFR futures are flat to -0.02, with the terminal implied yield at 2.975% (H7) +1.5bp from yesterday’s fresh lowest close since the days ahead of the hawkish Oct 29 FOMC press conference.
- There’s no Fedspeak scheduled today but the Fed’s Beige Book should be watched for latest liaison survey findings. The October Beige Book noted weaker economic activity and a still subdued labor market although price descriptions were arguably the most inflationary Beige Book of 2025, certainly joint with June which saw 8 (of 12) districts characterize inflation pressures as "moderate".
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OUTLOOK: Price Signal Summary - Gold Still In A Corrective Cycle
Oct-27 11:29
- On the commodity front, a sharp pullback in Gold last week appears corrective - for now. Note that the trend is overbought and a deeper retracement would allow this condition to unwind. Support at the 20-day EMA, at $4052.6, has been pierced. A clear breach of the average would signal scope for a deeper retracement, potentially towards the 50-day EMA, at $3832.4. Key resistance and the bull trigger has been defined at $4381.5, the Oct 20 high.
- The latest recovery in WTI futures appears corrective for now, however, note that price has traded through resistance at the 50-day EMA, at $61.13. The breach of this average signals scope for a stronger recovery . A resistance at $62.34, the Oct 8 high, has been pierced. A clear breach of this level would expose key resistance at $65.77, the Sep 26 high. Key support and the bear trigger has been defined at $55.96, the Low Oct 20.
MNI EXCLUSIVE: Chinese Policy Advisors View on Trump-Xi Meeting
Oct-27 11:26
- Chinese policy advisors give their view of the likely outcome of the Xi-Trump meeting -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
AUSTRALIA: Fitch Affirms Australia rating at AAA, Stable Outlook
Oct-27 11:25
- "Fitch Ratings has affirmed Australia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook."
- https://www.fitchratings.com/research/sovereigns/fitch-affirms-australia-at-aaa-outlook-stable-27-10-2025
