More beats for banks?
Bank of Montreal, Scotiabank, TD Bank and National Bank are set to report their third-quarter results this week. The results from the four banks follow Royal Bank and CIBC, which both reported profits that beat expectations and raised their dividends last week.
The U.S. International Trade Commission votes on final phase anti-dumping and countervailing duty investigations into newsprint from Canada on Monday. The U.S. government gave most Canadian newsprint producers a reprieve earlier this month by lowering final anti-dumping and countervailing duties after several U.S. businesses and politicians complained the tax on Canadian newsprint threatens the already-struggling newspaper industry.
Statistics Canada releases its latest reading on the country's economy on Thursday, with a report on economic growth for the second quarter. The economy slowed in the first quarter to its lowest rate in two years, largely attributed to a pullback in the real estate market. The latest assessment comes ahead of the Bank of Canada's next interest rate announcement set for Sept. 5.
The next Trans Mountain battle
The Federal Court of Appeal will release its decision in the case of Tsleil-Waututh Nation et al. v. Attorney General of Canada et al. over the Trans Mountain pipeline on Thursday. Opponents of the pipeline project were dealt a major blow on Thursday when the Supreme Court of Canada dismissed an application from the City of Burnaby to consider overturning a lower court decision that denied the port city leave to appeal a ruling by the National Energy Board.
Canada is waiting to rejoin the North American Free Trade Agreement negotiations as the United States and Mexico work to resolve their bilateral issues amid reports suggesting the announcement of a deal is close. Foreign Affairs Minister Chrystia Freeland said last week that she's been "very encouraged" by signals from Washington.