Overview
- ADP reported U.S. private employers shed more than 11,000 jobs per week through late October, signaling a softer labor market.
- Futures pricing via CME FedWatch puts the chance of a 25-basis-point cut at roughly 68% for the Dec. 9–10 meeting.
- The dollar index hovered near a one-week low around 99.46, while risk-sensitive currencies such as the Australian and New Zealand dollars edged higher.
- Fed officials delivered mixed messages, with Cleveland’s Beth Hamak warning on persistent inflation and San Francisco’s Mary Daly staying open to another cut, as Chair Jerome Powell said the decision is not final.
- The Senate approved a plan to end the government shutdown and the House is set to vote today, a step expected to restart delayed economic data that could shape the December call.