This week’s key economic release will be the January jobs report coming Friday.

The data flow kicks off Monday when Statistics Canada releases building-permit data for December. Economists expect an increase of 2.1%, compared with a decline of 5.7% in November

Also Monday, Bank of Canada Governor David Dodge is scheduled to speak at the Barbados International Business Association

On Thursday, the new-housing price index for December is released by Statistics Canada. Economists expect an increase of 0.4%, compared with a 0.5% increase in November.

On Friday, Canada’s Labour Force Survey for January is released by Statistics Canada. Economists expect the unemployment rate was 6.5%, the same as December’s.

Also Friday, Canadian international merchandise trade data for December is released by StatsCan. Economists expect a surplus of $6.9 billion.

From the United States next week, economists will be watching for an update on the trade balance on Friday.

The number is expected to have widened to US$64.7 billion in December from $64.2-billion in November.

On Tuesday, the U.S. Federal Reserve Board releases consumer credit data for December. Economists expect it was US$4.2 billion.

On Thursday, the U.S. Labor Department releases initial job claims for the week of Feb. 3. Economists expect there were 280,000 claims compared with 273,000 the previous week.

Also Thursday, the U.S. Commerce Department releases wholesale inventories data for December. Economists expect they rose 0.4%.

Earnings

The flood of Fourth-quarter profit reports from Canadian corporations will peak this week as several big firms report.

Canadian heavyweights reporting this week include Alcan Inc., Algoma Steel Inc., Canaccord Capital Inc., Falconbridge Ltd., Fairfax Financial Holdings Ltd., Industrial Alliance Insurance and Financial Services Inc., Kingsway Financial Holdings Ltd., Loblaw Cos. Ltd., Manulife Financial Corp., Shoppers Drug Mart, WestJet Airlines Ltd., Sun Life Financial, Thomson Corp. and CP Ships Ltd.