Sterling rose slightly on Monday but remained within recent ranges as analysts said concerns about economic growth and inflation limited its gains from expectations that the Bank of England will raise rates.
The dollar rose from a
one-month low on Monday, ahead of central bank meetings and
economic data coming later this week, boosted by the prospect of
a tighter U.S. monetary policy.
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.
The Baltic Exchange's dry bulk sea freight index fell to its lowest level in over a month on Monday, weighed down by lower rates in the capesize and supramax vessel segments. * The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell by 153 points, or 3.5%, to 4,257, its lowest since Sept. 17.
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%.
Consumer confidence in Brazil rose for the first time in two months in October, supported by an upward revision in expectations over family finances due to a better job market outlook for the coming months, Fundacao Getulio Vargas said on Monday. Brazil's consumer confidence index for October rose by 1 percentage point from the previous month to 76.3, according to FGV.
Mexico's economic growth decelerated in August, dragged down by primary activities such as farming, fishing and forestry, as well as tertiary activities, which include services and retail, data from the national statistics agency INEGI showed on Monday.
* Ifo business climate index falls more than expected. * Fourth monthly decline in a row in October. * Supply bottlenecks spill over from manufacturing. * Spike in energy prices, infections causing concern. By Michael Nienaber and Balazs Koranyi.
Sterling edged up in early London trading on Monday, but analysts said concerns about economic growth and inflation limited the extent to which the British currency benefited from expectations that the Bank of England will raise rates.
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