On Monday, Statistics Canada reports on international securities transactions in May.

Separately, StatsCan reports on wholesale transactions in May. Economists expect a drop of 2.5% from a month earlier.

On Tuesday, the Bank of Canada makes its interest rate announcement. The target for the key overnight rate is expected to remain unchanged at 0.25%.

On Wednesday, StatsCan reports on retail sales for April. Economists expect a rise of 0.5% from the previous month.

Meanwhile, the Conference Board of Canada releases the summer 2009 edition of its U.S. Outlook.

On Thursday, the Bank of Canada releases its monetary policy report update.


South of the border

On Monday, the U.S. Conference Board reports on leading indicators in June. Economists expect an increase of 0.5%.

On Tuesday, U.S. Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill on semi-annual monetary policy.

On Wednesday, the U.S. Department of Commerce reports on the housing price index for May. Economists expect a drop of 0.2% from the previous month.

On Thursday the U.S. Department of Labour reports on initial jobless claims for the week ended July 18. Economists forecast 555,000 claims.

As well, the U.S. National Association of Realtors reports on existing home sales in June. An increase of 0.6% from the previous month to 4.8 million sales, annualized, is forecast.

On Friday, the University of Michigan issues its final report on U.S. consumer sentiment in July. A reading of 65 is forecast.

Corporate earnings

On Monday, Canadian National Railway Co. reports. second-quarter results, as does Texas Instruments Inc.

On Tuesday, Caterpillar Inc. reports second-quarter results as does Coca-Cola Co., E.I. du Pont de Nemours & Co., Lockheed Martin Corp., Merck & Co. Inc., Southwest Airlines Co., Starbucks Corp., West Fraser Timber Co. Ltd., and Yahoo Inc.

Apple Inc. reports third-quarter results, as does TD Ameritrade Holding Corp.

On Wednesday, Bank of New York Mellon Corp. reports second-quarter results, as does Altria Group Inc., Boeing Co., E*Trade Financial Corp., Morgan Stanley, PepsiCo Inc., Pfizer Inc., Shoppers Drug Mart Corp., Suncor Energy Inc., US Bancorp and Wells Fargo & Co.

On Thursday, 3M Co. reports second-quarter results, as does Amazon.com Inc., American Express Co., AT&T Inc., Bristol-Myers Squibb Co., Capital One Financial Corp., Celestica Inc., Chubb Corp., Kimberly-Clark Corp., McDonald’s Corp., Microsoft Corp., Newmont Mining Corp., Philip Morris International Inc., Potash Corp. of Saskatchewan Inc., and Safeway Inc.

On Friday, Loblaw Cos. Ltd. reports its second-quarter results.