Economic data for the week ahead will see the markets heading into a new trading week. With comes a lot of economic data as well.

Monday is relatively quiet but the markets pick up steam later into the week.

The BoJ Governor, Kuroda is expected to speak on Tuesday.

Data from the Eurozone will cover the release of the German preliminary CPI.

The Bank of Canada will be holding its monetary policy decision this week.

No changes are expected to interest rates at this week’s meeting.

Data from the U.S. will see the release of the U.S. nonfarm payrolls and the ISM’s manufacturing PMI report on Friday.

BoC monetary policy decision

The Bank of Canada monetary policy decision is due this week on Wednesday.

Central bank watchers expect that interest rates will be left unchanged at 1.25% at this week’s meeting.

The expectations come from the fact that Canadian economic data was mixed over the past few weeks.

Most notably the unemployment data was seen rising at a slower pace than expected.

However, on the other hand, inflation data showed that consumer prices increased above 2.0% of the Bank of Canada’s inflation target.

Still, with various uncertainties in store, the BoC is expected to leave rates unchanged while buying for more time.

Investors expect to see more rate hikes coming later in the year.

Besides the BoC decision, the Canada GDP data is also expected to come out this week.

GDP is expected to rise 0.2% on a month over month basis.

However, this marks a slower pace of increase compared to 0.4% from the month before.