Here’s what to look for ahead of Labour Day weekend.
Trading on financial markets is expected to be light as it is the last full week before the Labour Day holiday. The week comes sandwiched between U.S. Federal Reserve chair Jerome Powell’s speech in Jackson Hole, Wyo., last week and the Bank of Canada’s interest rate decision on Sept. 6.
The deadline for Canada’s big wireless companies to respond to each other’s submissions to Industry Minister Francois-Philippe Champagne and his consultations regarding wireless access on Toronto’s subway system is Monday. Rogers switched on its high-speed 5G wireless network for customers on the busiest sections of the Toronto subway system in the downtown core on Aug. 23.
Third-quarter results from Canada’s big banks continue this week with Scotiabank and Bank of Montreal scheduled to report on Tuesday. National Bank is set to report Wednesday followed by Laurentian Bank and CIBC on Thursday. Canadian Western Bank will report its results on Friday.
Statistics Canada will report figures for payroll employment, earnings and hours, and job vacancies in June on Thursday. While the data lags the agency’s labour force survey, which tracks the jobs created and lost across the country, the report can offer a more detailed look at what is going on in the labour market.
Statistics Canada will release its reading on economic growth for June and the second quarter as a whole on Friday when it publishes its latest gross domestic product figures. The federal agency’s preliminary estimate for the second quarter suggests real gross domestic product grew at an annualized rate of 1% for the three-month period.