BRAZIL: CNN Brasil Report Suggests Haddad Be Named as Lula Chief of Staff
Feb-26 15:38
- "*LULA IS SUGGESTED TO NAME HADDAD AS CHIEF OF STAFF" CNN BRASIL
- Details here regarding the latest CNN Brasil headline suggesting Haddad could be named as President Lula’s chief of staff. According to the report, Lula‘s allies suggest Esther Dweck, Minister of Management and Innovation, to replace Haddad as Finance Minister.
- The headlines come amid President Lula shuffling his cabinet in an attempt to improve both his party support and popularity as elections in 2026 edge nearer. As a reminder, Lula fired Health Minister Nisia Trindade on Tuesday and replaced her with Institutional Relations Minister Alexandre Padilha, giving Lula the chance to name a new face to the key role of leading political negotiations with congress.
- Lula has not yet announced who will take up the post, but one option that has been touted is Gleisi Hoffmann, president of the Workers’ Party. She represents the more leftist wing of the party and is a vocal critic of Finance Minister Haddad.
- Lula is said to resist removing current Chief of Staff Rui Costa, however, Lula‘s advisors promote Haddad for the role because he could be a counterpoint to the eventual presence of Hoffmann in government.
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US TSYS: Post-New Home Sales React
Jan-27 15:24
- Treasury futures holding near recent session lows, little reaction to better than expected new home sales for December. Still bid, futures have scaled back overnight risk-off support on weaker stocks tied to China's DeepSeek AI startup.
- Treasury Mar'25 10Y futures currently +16 at 108-31 vs. 109-12 high - just below initial technical resistance of 109-12.5 (50-day EMA).
- Cross asset comparison, stocks are weaker but well off lows (SPX Eminis -103.0 at 6029.50), Gold weaker (-27.33 at 2743.23), US$ index off lows (BBDXY +.21 at 1295.37), volatility index gaining (VIX +3.61 at 18.46).
- Focus remains on Wednesday's FOMC policy annc, as well as heavy corporate earning's docket this week.
JPY: FX Exchange Option
Jan-27 15:22
FX Exchange traded option, looking for further Yen Strength.
- JPYUSD (7th Mar) 67.5c, bought for 0.23 in 1.3k.
The underlying is at 65.175, spot is slightly lower at 0.006481.
EQUITY TECHS: E-MINI S&P: (H5) Pullback Extends
Jan-27 15:10
- RES 4: 6200.00 Round number resistance
- RES 3: 6178.75 High Dec 6 and key resistance
- RES 2: 6163.75 High Dec 16
- RES 1: 6105.25/6162.28 Intraday high / High Jan 24
- PRICE: 6036.00 @ 14:58 GMT Jan 27
- SUP 1: 5961.75/5948.00 Low Jan 16 / Intraday low
- SUP 2: 5943.94 61.8% retracement of the Jan 13 - 24 bull leg
- SUP 3: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
- SUP 4: 5809.00 Low Jan 13 and a key support
The S&P E-Minis contract initially started the week on a bearish note, extending the pullback from Friday’s high. Key short-term support to watch lies at 5961.75, the Jan 16 low (pierced). For now, the move down appears corrective, however, a clear breach of 5961.75 would strengthen a bearish threat and signal scope for a deeper retracement. This would open 5943.94, a Fibonacci retracement. Key resistance is 6178.75, the Dec 6 high.
