Canada’s federal election will wrap up today. Canada’s Prime Minister won’t have much time to celebrate as they’ll be thrust into Canada’s trade tensions with the US. The Prime Minister is expected to have conversations with US President Donald Trump soon. There will also be many key economic announcements that will guide financial market performance. Here’s what to watch for this week.

• Statistics Canada (StatsCan) will announce Canada’s gross domestic product for February on Wednesday. The economy grew by 0.4% in January, but StatsCan estimates no growth (0.0%) in February.
• Canada’s manufacturing activity in April will be released on Thursday. Canada’s manufacturing sector contracted for a second straight month in March as trade uncertainty weighed on demand. If tariffs persist, they could have a harmful impact on Canada’s economy.
• There will be several key announcements out of the US this week. An advanced estimate of first-quarter economic growth will be released on Wednesday. The personal consumption expenditure price index, which is the US Federal Reserve Board’s preferred inflation gauge, will also be released that day. Labour market data will be announced on Friday.
• Japan’s industrial production and China’s manufacturing activity will be released on Tuesday night, European first-quarter growth on Wednesday, UK home prices on Thursday and European inflation on Friday.
• Notable earnings in Canada this week include Loblaw, CGI, GFL, Cenovus, TC Energy, Canadian National Railway, Air Canada and Imperial Oil. There will also be several key earnings announcements from the US.

No doubt, more talk about global trade and US-China relations will persist. This looms large over global financial markets. In response, global equity markets have been prone to relatively wide swings. After Canada’s federal election, attention will turn to when the Prime Minister will speak to President Trump in an effort to reduce or eliminate tariffs.

If you would like to discuss this economic and market update or have questions about your finances and investments, please feel free to contact me anytime.