Canadian economic announcements are expected to ramp up this week, following a relatively light week. Despite a slow announcement week, there were no dull moments as the US government shutdown came to an end. At the same time, Prime Minister Mark Carney announced his second batch of projects meant to transform Canada’s economy and make it more competitive. There will be plenty of announcements from around the world, which will impact investor sentiment and financial markets.

• Canada’s annual inflation rate for October will be released today. In September, the inflation rate jumped to 2.4%, its highest level since February. The Bank of Canada (BoC) is closely monitoring inflation, with tariff risks persisting, but believes it is largely contained.
• Retail sales will be released on Friday. Retail sales increased by 1.0% in August, with Statistics Canada estimating a 0.7% decline in September. Retail sales have been relatively muted this year amid falling confidence as trade tensions linger.
• Several economic announcements out of the US were delayed in response to the government shutdown. It is widely expected that data will be released, particularly as the US Federal Reserve Board prepares its final interest rate decision of 2025.
• Elsewhere, Japan’s trade balance will be released on Tuesday, the UK and European inflation rates on Wednesday, People’s Bank of China’s interest rate decision on Wednesday night, Japan’s manufacturing activity on Thursday and European services sector activity on Friday.
• Notable corporate earnings in Canada include Metro and Dye & Durham. Key earnings in the US include The Home Depot, Target, NVIDIA and Walmart.

Canada’s inflation and retail sales data will be critical measurements heading into the BoC’s interest rate decision on December 10. Global equity markets were a bit choppy last week due to lingering concerns about trade and the global economy, as well as uncertainty surrounding the release of US economic data.

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