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BMO on The Day, Week Ahead in Canada

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The Canada Mortgage and Housing Corporation (CMHC) will release housing starts for May at 8:15 a.m. ET on Monday, said Bank of Montreal (BMO).

The bank looks for housing starts to step back 6.9% month over month in May to 260,000 annualized after surging 16.5% in April.

At 8:30 a.m. ET on Monday, investors get the April reports on the manufacturing and wholesale sectors. Factory sales should rise 4.0% month over month, a little lower than the 4.6% advance reading, with new orders also up a strong 4.5%, stated BMO. The March figures were also solid, with sales up 3.0% and new bookings 4.7%.

Wholesale trade should grow 0.5% month over month, this time a little faster than the 0.1% advance figure but slower than March's 1.9% move, according to the bank.

Finally, on Monday at 8:30 a.m. ET, new consumer price index basket weights -- (based on 2025 spending patterns -- will be released.

Investors get existing home sales for May on Tuesday and retail sales for April on Friday.

The U.S. dollar (USD) is softer (BBDXY -0.25%), with the Canadian dollar (CAD or loonie) firmer (CAD per USD -0.14%) early Monday, added BMO.

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