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BMO Awaiting Manufacturing and Housing Data Later This Week

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Key reports this week in Canada include manufacturers' shipments on Wednesday, which are expected to rebound in February after a sharp pullback in auto production the prior month, says Bank of Montreal (BMO) in its morning note Monday.

There is also existing home sales on Thursday, which are likely to "remain depressed" in March with Ontario's prices grinding lower for a fifth straight year, adds the bank.

The Liberal Party of Prime Minister Mark Carney looks to gain majority status in the House of Commons following Monday's three by-elections, reducing the chances of a parliamentary election in the next three years, notes BMO.

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National Bank On What It Will Be Watching For Next Week

National Bank notes we'll get an update on the state of the residential sector with the release of March Housing Starts next Friday. The bank says judging by the data on building permits, the latter could have increased to 260K in annualized terms, led by the multi-unit segment.National Bank notes we will on Thursday also get Existing Home Sales numbers. The bank says they may have edged up 0.7% nationally in the third month of the year, boosted by stronger sales in Toronto and Vancouver.In other news, National Bank says Manufacturing Sales data on Wednesday may have expanded 3.8% m/m in February, on increases in the food and transportation equipment subsectors.The bank notes other February data will also be available, including figures Wednesday on Wholesale Trade Sales and Building Permits on Monday. National Bank will also be keeping an eye out for the release of the CFIB Business Barometer for April.Price: $195.34, Change: $+1.83, Percent Change: +0.95%

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CIBC On the Week Ahead In Economics

In Canada, CIBC says, the release Wednesday of both Manufacturing and Wholesale data for February should confirm the sharp rebounds already signaled by the advance estimates. For Manufacturing Shipments, CIBC is forecasting a 3.5% monthly gain, compared to a consensus 3.8%. For Wholesale Sales ex-petroleum CIBC sees a 2.5% rise.However, CIBC adds, housing starts figures for March on Friday are likely to show building activity stilltracking a lower level than the 2025 average. CIBC estimates 204k versus a consensus 250k.Also on the CIBC calendar for next week are the release of Building Permits for February on Monday and then the auction of $3 billion in 30-YR CANADAS on Wednesday and auction of $5.5 billion in 2-YR CANADAS on Thursday.Thursday will see the release of March Existing Home Sales and Friday will bring February Int'l Security Transactions.Price: $143.21, Change: $+1.62, Percent Change: +1.14%

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