U.S. Treasury yields fell on
Monday in choppy trading, weighed down by market uncertainty
about when the Federal Reserve would tighten monetary policy in
the face of persistently high inflation.
Growth in Texas factory output slowed in October compared with the previous month amid severe supply-chain bottlenecks, according to data from the Federal Reserve Bank of Dallas released Monday. The production index of the Texas Manufacturing Outlook Survey, a key measure of state manufacturing conditions, decreased to 18.3 in October from 24.2 in September. The reading signals solid output growth, the Dallas Fed said.
The Canadian dollar barely moved
against its U.S. counterpart on Monday as data showed that
speculators have cut bearish bets on the currency to the lowest
in five weeks and ahead of a Bank of Canada ...
* Investors await BoJ, ECB policy meetings due this week. * Palladium, platinum rise more than 1% each. By Amy Caren Daniel. Gold prices rose about 1% on Monday, as a retreat in U.S. bond yields and persisting worries about inflation lifted the safe-haven asset ahead of major central bank meetings this week. Spot gold was up 0.9% at $1,807.66 per ounce by 11:39 a.m. ET.
Canada's main stock index hit a record high on Monday as energy stocks rose on higher oil prices, but expectations that the Bank of Canada could strike a hawkish note in its upcoming policy announcement kept gains in check. The Canadian energy index jumped more than 2% to lead sectoral gains in early trading after oil prices touched multi-year highs.
The Bank of Canada will raise rates as early as the third quarter of next year, at least three months earlier than previously expected, according to economists polled by Reuters who see a risk that the increase could come even sooner. Just last month economists were almost evenly split on the risk of higher rates; now nearly all are saying sooner rather than later.
Canada's main stock index rose on Monday, led by gains in the energy and materials sectors as commodity prices rose, while investors awaited a policy announcement from the Bank of Canada later in the week. * At 9:32 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 49.81 points, or 0.23%, at 21,265.96.
The U.S. economy grew in September at a slower pace than in the previous few months, according to data from the Federal Reserve Bank of Chicago released Monday. The Chicago Fed National Activity Index fell to minus 0.13 in September from 0.05 in August, below the 0.35 consensus forecast from economists polled by FactSet. The CFNAI index is composed of 85 economic indicators drawn from four broad categories of data: production and income; employment, unemployment and hours; personal...
Canadian wholesale trade most likely rose 1.1% in September from August, led by higher sales in the miscellaneous and the machinery, equipment and supplies subsectors, Statistics Canada said in a flash estimate on Monday. The estimate was calculated based on a weighted response rate of 60.4%. The final response rate for the survey over the past 12 months has been 86.4%.
Futures for Canada's main stock index struggled for direction on Monday ahead of a policy announcement from the Bank of Canada this week, with investors also keeping watch on miners and energy stocks in the face of rising commodity prices.
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