On Monday, Canada Mortgage and Housing Corp. reports on housing starts in May. Economists expect annualized starts of 215,000, up from 214,000 the previous month.

On Tuesday, the Bank of Canada makes its interest rate announcement. Economists expect the target for the key overnight rate to be set at 2.75%, down from 3%.

Meanwhile, Statistics Canada issues international merchandise trade data for April. A surplus of $5 billion is expected, down from $5.5 billion the previous month.

On Wednesday, StatsCan posts the new housing price index for April. Economists expect a rise of 0.2%.

On Thursday, the Bank of Canada releases its twice-yearly financial system review of developments in the system and an analysis of policy directions in the financial sector.

On Friday, StatsCan posts manufacturing shipments for April. A monthly drop of 0.4% is expected.

Separately, the statistical agency releases data on first-quarter labour productivity. A decrease of 0.4% is forecast.

U.S. and overseas

On Tuesday, the U.S. Commerce Department reports on the balance of trade in April. Economists forecast a deficit of US$59.6-billion, compared with a US$58.2 billion deficit the previous month.

On Wednesday, the U.S. Treasury releases its monthly budget statement for May. Economists expect a deficit of US$151 billion, compared with US$67.7 billion the previous month.

Meanwhile, the U.S. Federal Reserve Board releases its periodic Beige Book survey of U.S. economic conditions.

On Thursday, the U.S. Labour Department reports initial jobless claims for the week ended June 7. Economists are forecasting 366,000 new claims.

Separately, the U.S. Department of Commerce reports advance retail sales for May. A rise of 0.5% is expected.

As well, G8 finance ministers start a two-day meeting in Osaka, Japan.

On Friday, the U.S. Labour Department reports on the consumer price index for May. Economists expect a monthly increase of 0.5% is expected. Excluding food and energy, May’s CPI is expected to rise 0.2%.

Corporate earnings

Canaccord Capital Inc. releases its fourth-quarter results on Thursday.

Other companies on this week’s earnings calendar include: Viterra Inc.; March Networks Corp.; North West Co. Fund; Transcontinental Inc. (the parent company of Investment Executive); Transat A.T. Inc.; and Q9 Networks Inc.