Investors will be watching the Federal Reserve Board this week as the central bank’s Federal Open Market Committee gathers to decide whether to adjust U.S. interest rates.

Economists are forecasting that the Fed funds rate will remain unchanged at 5.25% at the conclusion of a two-day meeting and on Wednesday.

In Canada, retail sales on Monday will draw attention. The consensus is looking for a modest 0.8% rise on the strength of robust auto sales, compared with a rise of 1.5% the previous month.

On Wednesday, Canada’s central bank chief, Bank of Canada governor David Dodge, will present his own views on inflation and the state of the nation’s economy to the Senate Committee on banking, trade and commerce.

On Thursday, StatsCan releases it business conditions survey for manufacturing in August.

South of the border

On Wednesday, the U.S. National Association of Realtors is scheduled to report on existing-home sales for September. Economists are predicting that sales fell 1.4% to 6.22 million homes, compared with a drop of 0.5% to 6.3 million the previous month.

On Thursday, the U.S. Department of Commerce reports on durable goods orders for September. Economists forecast an increase of 2%, compared with a decline of 0.5% the previous month.

Commerce also reports on new home sales in September. Economists forecast a sales to fall 1% to 1.04 million homes, following a rise of 4.1% to 1.05 million in the previous month.

The U.S. Labor Department reports on initial jobless claims for the week ended Oct. 21. Economists forecast 309,000 claims, compared with 299,000 claims a week ago.

On Friday, the U.S. Department of Commerce issues advance figures on third-quarter gross domestic product. Economists expect an annualized rise of 2.1%, compared with 2.6% in the previous quarter.

The University of Michigan issues its final index of consumer sentiment for October. Economists expect a reading of 92.4, up slightly from 92.3 the previous month.

Earnings

It’s another heavy week for corporate earnings. Corporations scheduled to report include: American Express Co.; Astral Media Inc.; Canadian Oil Sands Trust; Canadian Pacific Railway Ltd.; E.I. du Pont de Nemours & Co.; Ipsco Inc. Lucent Technologies Inc.; Abitibi-Consolidated Inc.; Boeing Co.; ConocoPhillips Co.
DaimlerChrysler AG; EnCana Corp. General Motors Corp.; Honda Motor Co. Ltd.; Methanex Corp. reports third-quarter results. Analysts expect share Potash Corp. of Saskatchewan Inc.; TD Banknorth Inc. TSX Group Inc.; Agnico-Eagle Mines Ltd.; Bell Aliant Inc. Canada Bread Co. Ltd. Celestica Inc.; Corus Entertainment Inc.;
Cott Corp. Maple Leaf Foods Inc.; Petro-Canada; Sun Life Financial Inc.; Tim Hortons Inc.; Western Oil Sands Inc.; Aur Resources Inc.; Chevron Corp.; and Rothmans Inc.