The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada increased 4.5% in February to 250,900 units compared with January's 240,148 units, said the Canada Mortgage and Housing Corp. on Monday. The rural starts monthly SAAR estimate was 20,400 units, noted CHMC.
Canadian housing starts rose slightly in February compared with the previous month, indicating that the trend in new construction remains steady despite monthly volatility, the national housing agency said on Monday.
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Canada refreshes the consumer price index for February at 8:30 a.m. ET on Monday as the last major reading before Wednesday's Bank of Canada decision, said Scotiabank. The relevance of the release is likely to be pretty minimal given fresher inflation risks emanating from the war with Iran, noted the bank.
* Dollar pulls back slightly, still near 10-month high. * Fed, ECB, BoE, BOJ among central banks to meet this week. * Focus on inflation, growth outlook as Middle East war drags on. * RBA expected to hike rates. By Rae Wee and Dhara Ranasinghe.
The body that advises the world's central banks has urged policymakers not to rush reactions to the Iran crisis-driven spike in global energy prices, calling it a textbook case of when to "look through" a supply shock, if it proves temporary.
Brazil's IBC-Br economic activity index rose a seasonally adjusted 0.80% in January from the previous month, the central bank said on Monday, while economists polled by Reuters were expecting a 0.85% growth.
The body that advises the world's central banks has urged policymakers not to overreact to the Iran crisis-driven spike in global energy prices, calling it a textbook case of when to "look through" a shock, especially if it proves temporary.
The Canadian consumer price index report is the key piece of data due at 8:30 a.m. ET on Monday, noted Bank of Montreal. Despite BMO's call for a "sizeable" 0.6% month-over-month headline gain, it said an even larger increase a year ago means that inflation will actually lead to a fall of half a percentage point to 1.8% year over year.
The US dollar fell against its major trading partners early Monday as attention turned to the outcome of the two-day Federal Open Market Committee meeting concluding Wednesday, where a 99.1% chance of no reduction in the current 3.50% to 3.75% federal funds rate is being priced in. Monday's highlights include the New York Federal Reserve's Empire State reading for March at 8:30 am ET, followed ...
The benchmark US stock measures were pointing higher before the opening bell Monday and oil prices remained elevated as the Middle East conflict continues, while investors await a key policy decision by the Federal Reserve later this week. The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2% and the Nasdaq added 0.5% in premarket activity.
The recent jump in oil prices won't show up "meaningfully" in Canada's trade balance until the March data, according to TD Economics. But even with limited information available, net trade is likely to subtract from Q1 2026 real gross domestic product growth, said the bank.
It's a busy week ahead for Canadian economic releases, highlighted by the February consumer price index report on Monday and the Bank of Canada's interest rate decision on Wednesday, noted RBC. RBC said the BoC will be watching CPI closely ahead of its policy decision.
March 16 - What matters in U.S. and global markets today. By Mike Dolan, Editor-At-Large, Finance and Markets. As the Iran conflict enters its third week with no end in sight, oil prices continue to push above $100 per barrel for Brent.
By Mike Dolan. March 16 - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets. As the Iran conflict enters its third week with no end in sight, oil prices continue to push above $100 per barrel for Brent.
* BoE delivers monetary policy decision on Thursday. * US dollar has been investors' haven of choice. * Pound sheltered slightly by lower reliance on energy imports compared with others.
The week ahead will be an important one on the central banks front in terms of assessing how G10 central banks are likely to respond to the energy price shock, said MUFG.
* Oil holds above $100 as Middle East conflict enters third week. * Trump talking to seven nations about securing Strait of Hormuz. * Fed expected to hold rates steady in policy meeting this week. By Pablo Sinha.
U.S. Federal Reserve officials, their policy outlook roiled by a war that has stranded a fifth of global oil supply, meet this week to debate whether the Iran conflict is more likely to disrupt economic growth, threaten more persistent inflation, or create a confounding mix of economic slowing and rising prices.
* Dollar pulls back slightly, still near 10-month high. * Fed, ECB, BoE, BOJ among central banks to meet this week. * Focus on inflation, growth outlook as Middle East war drags on. * RBA expected to hike rates. By Rae Wee and Dhara Ranasinghe.
* ECB to meet on Thursday. * Markets now pricing in 2026 rate hike. * Energy surge, triggered by war in Middle East, clouds outlook. By Yoruk Bahceli and Stefano Rebaudo. The European Central Bank meets on Thursday, with traders betting that surging oil prices could push it to hike interest rates as early as this year.
* Oil volatile as Hormuz shipping plans lack detail. * Host of central banks seen warning on inflation, growthU.S. stock futures, Asia shares slightly higher, Europe flat. * Dollar off highs, still near major chart levels. By Alun John and Wayne Cole.
Euro zone benchmark Bund yields hovered near their highest in almost 2-1/2 years on Monday, as the Middle East conflict stoked inflation fears and reinforced expectations of monetary tightening ahead of a week packed with central bank meetings.
* U.S. Fed, Bank of Canada rate decisions Wednesday. * Europe, Japan central banks meet Thursday. * Iran war keeps markets on edge. War in the Middle East is driving up energy prices sharply and that puts central banks, scarred by 2022's inflation surge, in a sticky spot.
The Japanese yen is one of the world's pre-eminent safe haven currencies - typically expected to strengthen in times of market turmoil. Japan's huge trade surplus and enormous net international investment positions once made the yen one of the FX market's premier bolt-holes during times of market trouble.
* Dollar pulls back slightly, still holds near 10-month high. * Fed, ECB, BoE, BOJ among central banks to meet this week. * Focus on inflation, growth outlook as Middle East war drags on. * RBA expected to hike rates. By Rae Wee.
* Oil volatile as Hormuz shipping plans lack detail. * Host of central banks seen warning on inflation, growth. * Nikkei slips, Wall St eyes Nvidia (NVDA) conference on AI. * Dollar off highs, still near major chart levels. By Wayne Cole.
Copper fell on Monday as elevated oil prices fuelled inflation concerns, supporting the U.S. dollar and dampening expectations for rate cuts by the Federal Reserve. The most-active copper contract on the Shanghai Futures Exchange declined 1.28% to 99,310 yuan a metric ton, as of 0330 GMT. The benchmark three-month copper contract on the London Metal Exchange slipped 0.32% to $12,740 a ton.
* Prices fell 3.2% on-year and 0.3% on-month in February. * 53 out of 70 cities reported monthly price declines. * China's 5-year plan aims to improve property development. By Liangping Gao, Yukun Zhang and Ryan Woo.
* China's Jan-Feb economic activity beat expectations. * Investment turns to expansion on policy support. * Analysts caution of risks to growth from Middle East war. * Economy already under strain from weak household spending, property slump.
* Oil volatile as Hormuz shipping plans lack detail. * Host of central bank meetings seen warning on inflation. * Nikkei slips, Wall St eyes Nvidia (NVDA) conference on AI. * Dollar off highs, still near major chart levels. By Wayne Cole.
China's industrial output grew 6.3% in January-February from the same period a year earlier, accelerating from the 5.2% pace in December, official data showed on Monday. The data released by the National Bureau of Statistics beat expectations for a 5.0% increase in a Reuters poll. Retail sales, a gauge of consumption, rose 2.8% in the first two months, compared with a 0.9% increase in December.
Prices of China's new homes remained in contraction in February, official data showed on Monday, indicating the troubled property sector is still far from recovery. Home prices fell 0.3% compared with the previous month, moderating from the 0.4% drop in January, according to Reuters calculations based on data released by the National Bureau of Statistics.
Gold prices were steady on Monday after paring a near 1% fall earlier in the session, as a softer dollar helped offset waning hopes of near-term U.S. interest-rate cuts due to elevated energy prices.
* Euro hits 7-1/2-month low. * Fed, ECB, BoE, BOJ among central banks to meet this week. * Focus on inflation, growth outlook as Middle East war drags on. * RBA expected to hike rates. By Rae Wee. The dollar held near a 10-month high on Monday in a tentative start to the week, as investors braced for a slew of central bank meetings under the shadow of the U.S.-Israel war on Iran.
Global stocks rallied on Monday as oil prices eased, though the surge in crude prices this month is likely to shift the inflation outlook and lead most central banks to hold rates steady at their policy meetings this week.
* Oil volatile as Hormuz shipping plans lack detail. * Host of central bank meetings seen warning on inflation. * Nikkei slips, Wall St eyes Nvidia (NVDA) conference on AI. * Dollar off highs, still near major chart levels. By Wayne Cole.
* US central bank expected to hold rates steady on Wednesday. * Investors look to updated economic projections, view of Middle East fallout. * Surging oil prices in focus as inflation pressure point. By Lewis Krauskopf.
* Documents part of case on criminal subpoenas. * Powell's attorneys met with Pirro on January 29. * If he stayed on board, Powell could be swing vote. By Howard Schneider.
The U.S. Federal Reserve Board tapped Robert Hur, a prominent former prosecutor who investigated former Democratic President Joe Biden's handling of classified documents, in its clash with the U.S. Justice Department over?records related to Fed Chair Jerome Powell, court filings showed on Friday.
S&P: * S&P: RATINGS ON SAUDI ARABIA AFFIRMED AT 'A+/A-1'; OUTLOOK STABLE. * S&P: STABLE OUTLOOK REFLECTS VIEW THAT SAUDI ARABIA WILL BE ABLE TO WEATHER THE ONGOING REGIONAL CONFLICT. * S&P: CURRENT BASE CASE IS THAT MAIN THREATS TO SAUDI ARABIA WILL BEGIN TO FADE BY END OF MARCH AS TENSIONS IN REGION BEGIN TO FALL.
* Pirro's probe of Powell seen as attack on Fed independence. * Senator Tillis blocks Warsh nomination until probe ends. * Powell chair term ends May 15, pending Warsh confirmation. By Howard Schneider.
A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.
Just days after the Federal Reserve granted a limited master account to Kraken, Crypto (CRCW) bank Custodia's years-long court battle with the Fed concludes in a loss.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of ?a+? of The Lincoln National Life Insurance Company and its wholly owned subsidiary, Lincoln Life & Annuity Company of New York.
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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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