This is a busy week on the economic calendar and the key announcement, domestically at least, comes on Wednesday with the Bank of Canada’s Monetary Policy Report. Analysts will be looking for indications on the timing of any interest rate increases. Economic improvements have been tempered lately by disappointing U.S. job reports, a slowdown in China, recurring European debt worries and the rising price of gasoline.
Today though, StatsCan reports total foreign investment in Canadian securities jumped to $12.5 billion in February, compared to a $4.3 billion sell-off in January. The February turn around was led by $13.7 billion in bond investments – including $10.2 billion in government bonds.
U.S. retail sales beat expectations in March rising 0.8%, 0.5% better than predicted. (February growth was pegged at 1%.) March’s broad-based increase comes in spite of gasoline prices that jumped 27 cents a gallon in one month.
U.S. business inventories rose 0.6% in February. The January figure was revised up to 0.8%. Business sales increased 0.7% in February, following a 0.4% advance in the previous month.
And the General Business Conditions component of The Empire State Manufacturing Index took a 14 point tumble to 6.6 but remains in positive territory.
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