By Ketki Saxena
Investing.com – At 10:00 a.m in Toronto, the S&P/TSX Composite was at 20,108.39, up +0.04% so far today.
The TSX continues to trade on a mixed note as weak economic data from China further fuelled fears of a global recession. The commodity heavy index gained some support from the energy sector, up 1.98% as investors bet on the impending EU ban on Russian oil.
However, analysts remain mixed about the longevity of the rebound, as investor sentiment remains risk-off, with fears of a recession also being driven by the likelihood of global central banks aggressively tightening monetary policy in order to combat soaring inflation.
Canadian investors this week will be watching for CPI data, due Wednesday, which should serve as an indicator for the Bank of Canada’s next policy move on the 1st of June. Canadian economics this week will also include other indicators of inflation, such as the industrial product price index, the raw materials price indices, and the Teranet/National Bank home price index. The only major earnings expected on the TSX this week are Lightspeed Commerce (TSX:LSPD), and CAE (TSX:CAE) Inc, both expected to report results on Thursday.
Here’s what to watch in Canadian Markest in the Week ahead
Monday, May 16
In Canadian econ: housing starts, manufacturing sales, wholesale trade, and existing home sales
Tuesday, May 17
In Canadian econ: International securities transactions
Wednesday, May 18
In Canadian Econ: CPI, Teranet/National Bank home price index
Thursday, May 19
In Canadian Econ: industrial product price index, raw materials price indices
TSX earnings: Lightspeed Commerce, CAE
Friday, May 20
No Major Canadian Earnings or Economic data