On Monday, Statistics Canada reports on international securities transactions in November. Economists are forecasting a net outflow of $1 billion.

On Tuesday, the Bank of Canada makes its interest rate announcement. Economists expect the target for the key overnight rate to be set at 1%, down from 1.5%.

Meanwhile, StatsCan reports on manufacturing shipments for November. Economists forecast a drop of 0.5%.

On Wednesday, StatsCan reports on wholesale transaction in November.

On Thursday, StatsCan releases retail sales figures for November.

Meanwhile, the Bank of Canada issues its monetary policy report update.

On Friday, Statistics Canada reports on the consumer price index in December. Economists expect the measure of inflation to drop to 1.2%, year-over-year, from 2% the previous month.

South of the border

U.S. financial markets will be closed Monday for the Martin Luther King Jr. Day holiday.

On Thursday, The U.S. Commerce Department reports on housing starts and building permits figures for December. Economists forecast 608,000 starts and 600,000 permits, both annualized. .

Corporate earnings

On Tuesday, Suncor Energy Inc. releases fourth-quarter results as does International Business Machines Corp. and
Johnson & Johnson.

On Wednesday, U.S. Bancorp releases fourth-quarter results.

On Thursday, Canadian National Railway Co. releases fourth-quarter results, as does Potash Corp. of Saskatchewan Inc., Richelieu Hardware Ltd., Lockheed Martin Corp., Southwest Airlines Co., and Nokia Corp.

Microsoft Corp. releases second-quarter results.

On Friday, General Electric Co. releases fourth-quarter results, Harley-Davidson Inc., and Xerox Corp.