Canada's Business Outlook and Retail Sales in Focus This Week

This week, key Canadian economic data includes the BoC Business Outlook Survey and Survey of Consumer Expectations for Q2, as well as retail sales for May. Earnings reports from various companies including Domino's Pizza, RTX Corp, Blackrock, and Chipotle Mexican Grill are also expected. In the US, Fed Chair Powell will give remarks at a regulatory conference.

This week, investors and financial professionals can expect a flurry of key economic data and earnings reports from major Canadian and U.S. companies. The Bank of Canada (BoC) will release its Business Outlook Survey and Survey of Consumer Expectations for the second quarter on Monday, providing insights into the country's economic health. Additionally, Statistics Canada will release its figures for retail trade in May on Thursday, which could offer further clarity on consumer spending trends [1].

On the earnings front, several notable companies are set to report their financial results. Canadian National Railway Co. (CNR) and Rogers Communications Inc. (RCI.B) will release their second-quarter results on Tuesday and Wednesday, respectively. Loblaw Cos. Ltd. (L) will report its second-quarter results on Thursday. These reports will offer investors a glimpse into the financial performance of these companies, which have been impacted by various factors such as tariffs and new service launches [1].

In the U.S., the Federal Reserve's (Fed) Chair Jerome Powell is expected to give remarks at a regulatory conference, which could provide insights into the central bank's future monetary policy. The U.S. retail sales report for June, which showed a rebound in consumer spending, will also be closely watched. The report highlighted that retail sales increased by 0.6% last month, suggesting that the economy is regaining momentum [2].

Meanwhile, the possibility of President Trump attempting to fire Fed Chair Powell has been in the air, but Treasury Secretary Scott Bessent has advised against such a move. Bessent has argued that firing Powell could have negative effects on the economy and markets, and could face legal and political obstacles [3].

Investors and financial professionals should keep a close eye on these developments as they could have significant implications for both the Canadian and U.S. economies.