Canada's CPI Data and Quarterly Earnings to Take Center Stage This Week
The Canadian economy is set to release its Consumer Price Index (CPI) data for July this week, following a 2.8% year-over-year increase in June and a 0.1% decline on a seasonally adjusted monthly basis.
In other economic news, Canada's International Transactions in Securities showed that foreign investors purchased $7.9 billion of Canadian securities in May, down from the previous month's $46.9 billion investment. Meanwhile, Canadian investors acquired $22.3 billion of foreign securities, following a divestment of $11.4 billion in the previous month.
On the earnings front, Fabrinet Inc. reported a Q4 EPS of $3.69 compared to $2.43 in the prior-year quarter, while H World Group Limited saw a Q2 EPS of 65 cents compared to 52 cents in the prior-year quarter. XP Inc. also reported a Q2 EPS of 51 cents, up from 43 cents in the prior-year quarter.
In Canada, housing starts declined 6% from the previous month to a seasonally adjusted annual rate of 239,000 units in June, falling short of markets expectations of 258,000 units. In contrast, New Found Gold Corp. reported a Q2 EPS for gain of 21 cents compared to a loss of 36 cents in the prior-year quarter.