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.
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 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.
Business sentiment in Belgium remained unchanged in October, beating expectations for a decline, data from the National Bank of Belgium showed Monday. Business confidence stayed at 4.0 in October, unchanged from the previous month. Economists polled by The Wall Street Journal had expected the indicator to decline to 2.0.
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%.
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.
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