Investors will get a readinh on the state of the Canadian housing market in the coming week with reports on building permits and housing starts.
Statistics Canada will release its September report on building permits on Monday. Economists expect a 5% drop, month-over-month,
On Tuesday, Canada Mortgage and Housing Corp. will release its report on October housing starts. Economists expect an annualized 225,000 starts.
On Wednesday, Bank of Canada Governor David Dodge addresses the Association des MBA du Québec, on Economic and Financial Efficiency: The Importance of Pension Plans.
On Thursday, economists expect Statistics Canada to report a 0.3% increase, month-over-month, in the new housing price index in September.
Separately, StatsCan reports on Canada’s international merchandise trade in September. Economists expect a surplus of $6-billion.
On Monday, the U.S. Federal Reserve Board reports on consumer credit in September. Economists expect an increase of US$5.5 billion. Earnings
On Wednesday, the U.S. Commerce Department reports on wholesale trade in September. Economists expect inventories to grow 0.4%. Other
On Thursday, the U.S. Labor Department reports on initial jobless claims in the week ending November 5. Economists expect 323,000 claims.
The U.S. Commerce Department reports on the international trade balance in September. Economists expect a deficit of US$61 billion.
The University of Michigan issues its preliminary index of consumer sentiment for November. Economists expect a reading of 76.8.
The U.S. Treasury Department reports on the federal budget for October. Economists expect a deficit of US$50 billion. On Friday, bond markets are closed in Canada and the United States to observe Remembrance Day and Veterans Day.
While most of Wall Street’s third-quarter earnings reports have now been released, Canadian earnings season is still in full swing.
Ski resort operator Intrawest Corp. will get the ball rolling on Monday with its fiscal 2006 first-quarter results. Other Canadian companies slated to open their books next week are home-improvement retailer Rona Inc., phone company Telus Corp., auto parts company Magna International Inc. as well as Goldcorp Inc., Canadian Tire Corp. Ltd. and Loblaw Cos. Ltd.