Canada's Inflation Data and Housing Market Face US Tariff Deadline

This week will bring crucial data on Canada's inflation and housing markets, amidst a looming US tariff deadline. The Canadian inflation rate slowed to 2.8% in June, thanks to a 10% drop in gasoline prices.

The July Consumer Price Index report is expected to provide further insight into underlying price pressures, particularly in shelter and other services. This will impact the Bank of Canada's decision on whether to raise interest rates or maintain them at 2.25% through 2027.

Housing data will also be released this week, with home sales and MLS Home Price Index numbers expected to show continued weakness in major markets such as Toronto and Vancouver.