Here’s what investors can watch for this week.
Prime Minister Justin Trudeau will hold a cabinet retreat in Charlottetown starting on Monday. The retreat comes after a large shuffle at the table last month and is expected to focus on the economy and affordability issues. Members of Parliament are scheduled to return to the House of Commons on Sept. 18 after the summer break.
Canada will play host to the Global Environment Facility assembly which will meet in Vancouver starting on Tuesday. The conference will bring together ministers, government officials, business leaders, environmentalists and others.
The picture of how the economy fared in the second quarter will become a little clearer when Statistics Canada releases its figures for retail trade in June on Wednesday. The agency’s early estimate for the month suggested retail sales were unchanged, but it cautioned the figure would be revised.
Canada’s big banks will begin reporting their latest quarterly results this week. Royal Bank of Canada and Toronto-Dominion Bank are expected to release their third-quarter results on Thursday. The reports come as household budgets are strained by inflation and higher interest rates.
The Finance Department is expected to release its latest reading on federal government spending and revenue. The fiscal monitor report for June is expected on Friday. The report for April and May, the first two months of the 2023-24 fiscal year, showed a budgetary surplus of $1.5 billion, compared with a surplus of $5.3 billion reported for the same period a year earlier.