By Ketki Saxena
Investing.com -It’s set to be another big week in Canadian economics, after the Bank of Canada’s 100 bps rate hike last week.
Major Canadian data this week will include housing starts, Canadian retail sales, and manufacturing sales flash estimates, which investors will be watching for signs of strength -or slowdown - in the domestic economy.
The biggest story in Canadian economics this week, however, will be Wednesday’s CPI (consumer price index) reading, which is expected to rise another 0.8% this month, driven largely by energy costs.
In May, Canadian inflation rose 1.1% on a monthly basis to 7.7%, reaching a four-decade high.
Other economic data due this week is also expected to provide insights into inflation in Canada, including the industrial product and raw materials price indices
Monday, July 18
- In Canadian Economics: Canadian housing starts
- TSX Earnings: PrairieSky Royalty (TSX:PSK) Ltd.
- In the U.S: Earnings from Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), IBM (NYSE:IBM)
Tuesday, July 19
- No Major Canadian economic data or earnings
- In the U.S: housing starts and building permits; Earnings from Johnson & Johnson (NYSE:JNJ), Netflix (NASDAQ:NFLX), Halliburton (NYSE:HAL)
Wednesday, July 20
- In Canadian Economics: Canadian CPI, Industrial product and raw materials indices
- No major TSX earnings
- In The U.S.: existing home sales; Earnings from Tesla (NASDAQ:TSLA), United Airlines Holdings Inc (NASDAQ:UAL)
Thursday, July 21
- No Major Canadian economic data or earnings
- No major TSX earnings
- In the U.S.: U.S. initial jobless claims; earnings from AT&T (NYSE:T), Snap Inc (NYSE:SNAP)
Friday, July 22
- In Canadian Economics: Canadian retail sales, manufacturing sales flash estimate
- No major TSX earnings
- In the U.S.: Earnings from Twitter (NYSE:TWTR), Schlumberger (NYSE:SLB), Verizon (NYSE:VZ)
View the full earnings calendar for the week ahead.