Busy Week Ahead for Markets as Bank of Canada and Fed Release Key Data
The week is off to a busy start in both Canada and the US. On Monday morning, the Bank of Canada will release its quarterly Market Participants Survey at 10:30 am Eastern time. This report will provide updated forecasts for key economic indicators, including the overnight rate, inflation, economic growth, government bond yields, and the Canadian dollar.
Meanwhile, in the US, the Census Bureau is set to release June durable-goods orders at 8:30 am. This data point will give insight into the state of manufacturing activity in the country.
The Federal Reserve's two-day policy meeting is also underway, with its next rate decision scheduled for Wednesday. Although markets expect the Fed to leave its target range unchanged at 3.50% to 3.75%, there are concerns that rising long-term yields and other factors could prompt a September rate hike.