The Bank of Canada makes its interest rate announcement on Tuesday.

Economists expect the target for the key overnight rate to remain unchanged at 3%.

On Wednesday, Statistics Canada releases its survey of manufacturing shipments for May. Economists forecast an increase of 0.5%, compared with a gain of 2% in the previous month.

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

StatsCan releases data on international securities transactions for May.

On Friday, StatsCan reports on the leading indicators in June. Economists forecast a rise of 0.1%.

As well, the government agency reports on wholesale trade for May. Economists forecast an increase of 0.5%.

U.S. and overseas

On Tuesday, Federal Reserve Board Chairman Ben Bernanke delivers the U.S. central bank’s semi-annual monetary policy report to Congress. He is to testify before the Senate banking committee Tuesday and the House financial services committee on July 16.
Meanwhile, the U.S. Department of Labour releases its producer price index for June. Economists expect an increase of 1.3% from the previous month.

The U.S. Commerce Department releases retail sales data for June. An increase of 0.4% is expected over May.

Overseas, the Bank of Japan concludes its monetary policy meeting with a decision on its overnight target rate. It is expected to keep its key rate unchanged at 0.5%.

On Wednesday, The U.S. Federal Open Market Committee issues minutes from its June 25 meeting, where it decided to keep its target for the federal funds rate at 2%.

Separately, the Federal Reserve Board reports on industrial production for June. No change in output is forecast, compared with a decrease of 0.2% in the previous month.

As well, the U.S. Labour Department reports on the consumer price index for June. Economists expect a monthly CPI increase of 0.7% (0.2% with food and energy stripped out), and a yearly CPI increase of 4.5% (2.3% without food, energy).


On Thursday, the U.S. Department of Commerce reports on housing starts for June. Economists expect 965,000 starts, annualized.

The U.S. Department of Labour reports on initial jobless claims for the week ended July 12. Economists expect 380,000 new claims, compared with 346,000 in the previous week.

Corporate earnings.

Intel reports second-quarter results on Tuesday as does Johnson & Johnson and CSX.

Alimentation Couche-Tard Inc. reports fourth-quarter results.

On Wednesday, Shoppers Drug Mart reports second-quarter results, as does eBay and Yum Brands Inc.

On Thursday, Google reports second-quarter results, as does Advanced Micro Devices, Nexen Inc., OPTI Canada Inc., J.P. Morgan Chase, Harley-Davidson, Coca-Cola,

TD Ameritrade Holding reports third-quarter results.

Microsoft reports fourth-quarter earnings.

On Friday, Citigroup reports second-quarter results, as does Mattel.