Investors will be paying close attention to this week’s inflation numbers for clues to the future direction of interest rates.

On Tuesday, Statistics Canada releases data on new motor vehicle sales for March. Economists expect flat sales compared with February.

Separately, StatsCan releases its survey of manufacturing for March. Economists expect a 0.9% increase in shipments over February.

On Wednesday, StatsCan releases data on international securities transactions for March.

On Thursday, StatsCan releases the consumer price index for April. Economists expect a 2.1% increase over the same month a year ago.

Separately, the government agency reports on wholesale trade for March. Economists expect growth of 0.5% over February.

On Friday, StatsCan reports on retail sales for March. Economists expect growth of 0.7% over February.

South of the border

On Tuesday, the U.S. Department of Labor reports on consumer price index for April. Economists expect growth of 2.6% over April a year ago.

On Wednesday, the U.S. Department of Commerce releases housing starts and building permits data for April.

Meanwhile, the U.S. Federal Reserve reports on industrial production for April.

On Thursday, the U.S. Department of Labor reports on initial jobless claims for the week ending May 12. Economists expect an increase in claims to 310,000 from 297,000 in the previous week.

The deluge of corporate earnings releases recedes this week.

ING Canada reports first quarter results on Tuesday. On Thursday, Canaccord reports its fourth quarter results.

Other companies scheduled to release earnings include:

  • Great Canadian Gaming;
  • Hewlett-Packard;
  • Canadian Solar;
  • DaimlerChrysler;
  • Alliance Atlantis Communications;
  • BFI Canada;
  • Cominar REIT;
  • Connors Brothers Income Fund;
  • Medisys Health Group Income Fund;
  • Workbrain;
  • World Energy Solutions; and
  • Rothmans reports.