RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
The United Kingdom’s gilts remained range-bound during Tuesday’s afternoon session ahead of the Bank of England’s (BoE) Financial Stability Report, scheduled to be released on November 28.
The yield on the benchmark 10-year gilts, slumped 2 basis points to 1.391 percent, the super-long 30-year bond yields remained tad lower at 1.969 percent and the yield on the short-term 2-year too traded 1/2 basis point lower at 0.767 percent by 10:30GMT.
With May’s chances of securing House of Commons ratification for her Brexit deal in the ‘meaningful vote’ on December 11 seemingly diminishing by the day, an ECJ hearing gets underway today to confirm whether the Article 50 notice could be unilaterally revoked by the UK Government to halt Brexit, Daiwa Capital Markets reported.
The Government’s legal position on the matter, released yesterday, suggested that – contrary to earlier indications – MPs could, if they wish, simply direct it to halt the Article 50 process in order to prevent Brexit from happening. We suspect that the ECJ will, in due course, confirm that assessment via its judgement, which would offer a further possible (if unlikely) scenario for MPs to consider if and when May’s deal is rejected by the House of Commons.
In addition to the steady flow of Brexit-related news, today will bring the quarterly CBI Distributive Trades survey. The latest retail sales figures surprised on the downside showing that activity on the High Street slowed in October after very strong growth in Q2 and Q3. Today’s survey will probably signal a further moderation this month, the report added.
Meanwhile, the FTSE 100 traded 0.32 percent lower at 7,013.00 by 10:35GMT, while at 10:00GMT, the FxWirePro's Hourly Pound Strength Index remained slightly bearish at -96.34 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
