There is a full slate of Canadian and U.S. economic data for investors to digest this week.

The Canadian dollar could get a strong boost Monday morning, when Statistics Canada releases current account data for the fourth quarter.

Also Monday, StatsCan releases employment, earnings and hours data as well as farm cash receipts for December 2005.

Canada’s GDP data for December 2005 are scheduled for release Tuesday. Economists forecast annualized growth of 2.6%.

On Wednesday, Statistics Canada releases industrial product index and raw materials price index data for January. Economists predict an increase of 0.2% and 4%, respectively.

The data will set the stage for the Bank of Canada’s next meeting on March 7.

United States economic news

South of the border, economists are forecasting that gross domestic product increased by 1.6% in the fourth quarter, compared with 1.1% during the third, according to surveys. Results will be released Tuesday.

On Monday, the U.S. Commerce Department releases new home sales figures for January. Economists forecast annualized sales 1.26 million units.

On Tuesday, the U.S. Conference Board releases consumer confidence data for February. Economists expect a reading of 105.

Separately, the U.S. National Association of Realtors releases existing home sales figures for January. Annualized sales of 6.6 million units are expected.

Also scheduled for release in the U.S. Tuesday is the Chicago purchasing managers’ index.

On Wednesday, the U.S. Commerce Department releases personal income and consumption data. Economists forecast increases of 0.6% in income and 1% in spending.

Also Wednesday, the Institute of Supply Management’s manufacturing index is scheduled for release.

On Thursday, the U.S. Labor Department releases initial jobless claims for the week ending Feb. 25. Economists expect 285,000 claims.

The ISM service sector data comes out on Friday.

Earnings calendar

Earnings reports from Canada’s big banks will give investors plenty to watch this week.

On Thursday, Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank of Canada release first-quarter results. And on Friday, Bank of Nova Scotia and Royal Bank of Canada complete the major banks’ reports.

TD kicked off the big banks reporting season last week by posting a quarterly profit that soared 265% to $2.3 billion, thanks to a huge gain from selling control of its U.S. retail brokerage.

Auto parts maker Magna International Inc. reports Tuesday.

GMP Capital Corp. reports fourth-quarter 2005, results on Wednesday.