Bank of Canada Governor Tiff Macklem is back again for another fireside chat, this time at Toronto's Global Risk Institute on Wednesday, said Scotiabank. The governor has preached patience to date as complex supply and demand forces upon the inflation outlook are assessed, noted the bank.
Canadian real gross domestic product contracted by 0.6% quarter-over-quarter in Q4 on an annualized basis versus the consensus for 0.2% decline, said UBS. Friday's GDP report was held down by an inventory drawdown as consumption improved, wrote the bank in a note to clients.
* Central bank plans likely unchanged for now despite oil price pressures, Treasury chief says. * Higher oil prices boost Brazil's revenue from royalties and Petrobras dividends. * Brazil's real has strengthened, offsetting inflation from oil price hikes. By Marcela Ayres.
The Institute for Supply Management's US manufacturing index declined to 52.4 in February from 52.6 in January, compared with expectations for a 51.5 reading in a survey compiled by Bloomberg. There were declines in the readings for new orders and production, but increase in employment, inventories, supplier deliveries, order backlogs and prices.
U.S. manufacturing activity grew steadily in February, but a gauge of prices at the factory gate raced to a near 3-1/2-year high amid tariffs, highlighting upside risks to inflation even before a U.S.-led attack on Iran sent oil prices rocketing.
U.S. manufacturing activity expanded steadily in February, but a measure of prices paid by factories for inputs rose to the highest level in nearly 3-1/2 years, highlighting upside risks to inflation amid import tariffs even before a U.S.-led attack on Iran sent oil prices higher.
New Orders Growing; Production Growing; Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Imports Growing; Exports Growing TEMPE, Ariz. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management?? Manufacturing Business Survey Committee.
There was both good and bad in Friday's Canadian gross domestic product data, said Rosenberg Research, adding that at the margin, however, still more of the latter and less of the former. The economy contracted at a 0.6% annual rate in Q4, slightly worse than the 0.2% consensus decline forecast, noted Rosenberg Research.
The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide an overview of the health of the manufacturing sector, registered 51.0 in February, up from 50.4 in January and slightly above the crucial 50.0 no-change threshold, said S&P Global on Monday.
Canada's manufacturing sector grew for a second straight month in February as new business increased despite weak export sales and rising inflation pressures, data showed on Monday. The S&P Global Canada Manufacturing Purchasing Managers' Index, a measure of factory sector health, rose to 51.0 last month from 50.4 in January, posting its highest level since January 2025.
The European Central Bank should be prepared to move its key interest rate in either direction if potential threats to the eurozone economy arising from a fresh increase in uncertainty come to pass, Austria's central bank governor Martin Kocher said in an interview to the Wall Street Journal published on Monday.
The US dollar rose sharply against its major trading partners early Monday ahead of another busy week of data releases that lead up to February nonfarm payrolls employment data to be released Friday, with military action in Iran over the weekend a key factor in the dollar's jump.
Data flow was mixed this week in Canada, said TD. Given the importance of business investment in forecasts for Canadian economic growth, the bank was "eagerly" anticipating last week's release of the survey of capital spending for 2026. Investment intentions for 2026 in the survey flagged another outperformance by the public sector.
Chile's economic activity fell 0.1% in January from a year earlier, central bank data showed on Monday, weighed down by a decline in goods production, including in the key mining sector. The IMACEC economic activity index landed way below market forecasts, as economists polled by Reuters expected a 1.1% expansion, and slowedsharply from the 1.7% increase reported in December.
Chile's economic activity fell 0.1% in January when compared to a year earlier, central bank data showed on Monday, way below market forecasts as economists polled by Reuters expected a 1.1% expansion. The IMACEC index, which accounts for about 90% of the Andean country's gross domestic product, registered a 0.2% increase on a monthly basis, the central bank added.
* Middle East conflict disrupts Strait of Hormuz supply route. * UAE is largest aluminium producer in the region. * Prolonged conflict could affect global metals demand. By Pratima Desai. Aluminium prices rose to their highest in more than a month on Monday after U.S. and Israeli strikes in Iran fuelled concerns about prolonged conflict in the Middle East, a major producer of the metal.
U.S. Federal Reserve officials who have largely accepted that artificial intelligence will lead to dramatic shifts in the economy are now struggling to understand the pace and extent of what's to come, with a divide emerging over its potential to impact the labor market and prices.
US equity investors will mainly focus on the US- and Israel-led war on Iran and its impact across asset classes and sectors, as well as nonfarm payrolls this week. * Kuwait's Ministry of Defense said "several" US military aircraft crashed Monday and that "all crews survived," CNN reported. * West Texas Intermediate crude oil futures jumped 7.7% to $72.11 a barrel early Monday.
* Central bank makes rare verbal intervention. * Franc rises to highest level versus euro since 2015. * Analyst does not expect bank to cut rates. By John Revill. The Swiss National Bank said on Monday it was more willing to intervene in foreign currency markets after the conflict in the Middle East pushed the Swiss franc to its highest level against the euro in more than a decade.
Arthur Hayes, Chief Investment Officer at?Maelstrom?Fund, said Sunday that a prolonged U.S.-Iran conflict could force the Federal Reserve to print more money, ultimately driving Bitcoin higher. In an essay titled iOS Warfare, Hayes analyzed the Trump administration?s decision to strike Iran and what could happen to investment portfolios as a result.
Activity in Britain's manufacturing sector rose last month and export orders increased by the most in four-and-a-half years, according to a survey on Monday that showed steady growth momentum at the start of the year despite stronger cost pressures.
Euro zone manufacturing expanded at its fastest pace in nearly four years last month as new orders bounced and factory output rose although rising cost pressures squeezed margins, a survey showed on Monday.
* Spike in oil costs to hurt Japan's import-reliant economy. * Degree of damage to depend on operations around Strait of Hormuz. * BOJ may take wait-and-see approach, delay rate-hike timing. * PM says govt ready to act flexibly to minimise economic impact. * BOJ expected to continue raising rates, deputy governor says. By Leika Kihara.
Aluminium prices rose on Monday as the U.S.-Israel attack on Iran heightened concerns over potential disruptions to shipping in the key Strait of Hormuz, a critical route for global commodities. The most-active aluminium contract on the Shanghai Futures Exchange climbed 3.21% to close daytime trading at 24.465 yuan a metric ton, having touched a four-week high of 24,495 yuan.
The Swiss National Bank reported an annual profit of 26.1 billion Swiss francs for 2025, the central bank said on Monday, confirming its earlier provisional figures. The SNB said in January it expected to make a profit of around 26 billion francs last year, a figure that was boosted by a sharp increase in gold prices as investors sought safe-haven assets amid global trade turmoil.
* India remains fastest-growing major economy globally. * Modi's government revamps economic data for accuracy. * Growth at 7.8% in October-December quarter; projected at 7.6% in 2025-26. * Private consumption expands 8.7% year-on-year in Q3. * 2026/27 growth seen at 7%-7.4% under new GDP series, economic adviser says. By Nikunj Ohri, Manoj Kumar and Shubham Batra.
Gold prices rose on Monday after the U.S. and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty. Spot gold was up 1.37% at $5,349.44 an ounce, as of 0439 GMT, after hitting its highest point in more than four weeks. U.S. gold futures rose 2.21% to $5,362.60 per ounce.
Aluminium prices rose on Monday as the U.S.-Israel attack on Iran heightened concerns over potential disruptions to shipping in the key Strait of Hormuz, a critical route for global commodities. The most-active aluminium contract on the Shanghai Futures Exchange rose 1.14% to 23,975 yuan a metric ton as of 0255 GMT, having gained 1.67% to 24,100 yuan earlier this session.
* Spike in oil costs to hurt Japan's import-reliant economy. * Degree of damage to depend on operations around Strait of Hormuz. * BOJ may take wait-and-see approach, delay rate-hike timing. By Leika Kihara.
Japan's manufacturing activity accelerated in February to its fastest pace in almost four years, as robust demand led to sharp increases in output, new orders and employment across the board, a private-sector survey showed on Monday.
Bitcoin's future hinges less on technological factors and more on how AI affects growth, employment, real interest rates, and central bank liquidity, NYDIG Research argues.
The death toll has risen to 20 in the crash on Friday evening of a Bolivian Air Force Hercules aircraft during bad weather in the city of El Alto, near Bolivia's capital La Paz, AFP reported citing police. The plane was carrying new banknotes from the country's central bank.
The Nasdaq Composite and the S&P 500 suffered back-to-back declines on Friday following a hot producer prices report, while both benchmarks logged their steepest monthly declines in almost a year.
US equity indexes fell this week as the producer price index turned hot and Nvidia's (NVDA) blowout beat-and-raise failed to stem the so-called AI-scare trade. * The S&P 500 closed at 6,878.88 on Friday versus 6,909.51 a week ago.
US equity indexes were down Friday following a higher-than-expected producer price report and continued pressure on technology stocks. * The Bureau of Labor Statistics said Friday the US Producer Price Index rose by 0.5% in January following a 0.4% increase in December, and higher than the 0.3% gain expected in a Bloomberg survey.
* Canadian dollar gains 0.4% against the greenback. * Touches an 11-day high at 1.3626. * Canada's fourth-quarter GDP decreases 0.6% on annualized basis. * Ten-year yield approaches three-month low. By Fergal Smith.
* US Senate will decide whether to confirm Warsh as next Fed chief. * Powell's term as head of US central bank ends on May 15. * Department of Justice investigation into Powell complicates Warsh nomination. * Trump wants a Fed chief who will deliver big interest rate cuts. By Ann Saphir.
President Donald Trump has yet to formally nominate Kevin Warsh to succeed Jerome Powell as head of the Federal Reserve, a delay that, while not unprecedented, is also not typical and adds to uncertainty in a process clouded by concerns about political pressure on the U.S. central bank. Trump named Warsh, a former Fed governor, as his nominee four weeks ago.
* US Senate will decide whether to confirm Warsh as next Fed chief. * Powell's term as head of US central bank ends on May 15. * Department of Justice investigation into Powell complicates Warsh nomination. * Trump wants a Fed chief who will deliver big interest rate cuts. By Ann Saphir.
All three major US stock indexes were down in late-morning trading Friday, with the Dow Jones Industrial Average down over 1%, as stocks fell after the release of a hotter-than-expected producer price index earlier in the day. The US Producer Price Index rose by 0.5% in January, well above the 0.3% gain expected in a survey compiled by Bloomberg and up from the 0.4% rise in December.
The European stock markets were mostly higher in Friday trading as The Stoxx Europe gained 0.2%, Germany's DAX was up 0.1%, the FTSE 100 rose 0.7%, France's CAC was off 0.5%, and the Swiss Market Index increased 0.7%. In France, GDP decelerated in Q4, expanding 0.2% after growing 0.5% in Q3, according to the Institute of Statistics and Economic Studies, or INSEE.
The U.S. dollar was headed for its first monthly gain since October on Friday, although an earlier rally on hotter-than-expected producer price data for January faded as traders squared positions for the month-end and ahead of the weekend. The U.S. currency got a boost after data showed the Producer Price Index for final demand rose 0.5% last month.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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