Written By
Nick Raffoul
Nick Raffoul is the Founder and Lead Analyst at Best Canadian Stocks. He graduated with a degree in Business Administration, has over a decade of writing experience, and grew his personal portfolio 153% from 2020 to 2024.
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The S&P/TSX Composite closed Friday at 36,730.27, down 29.02 points (−0.08%), snapping a four-day streak of consecutive record closes after profit-taking followed weaker-than-expected U.S. retail sales. “The market is in a bit of a profit-taking mode after a very strong run,” said Lesley Marks, CIO of Equities at Mackenzie Investments (data as of August 14, 2026 market close).
The TSX set four consecutive record closes Monday through Thursday before Friday’s pause. Commodities held firm into the weekend, with September crude settling at US$82.40 per barrel and December gold at US$4,437.30 per ounce. The Canadian dollar traded at 72.07 cents U.S.
For the week ahead, Canadian investors face a macro-driven calendar anchored by Monday morning’s CPI release — the week’s main event.
Monday: Canada July CPI at 8:30am ET
Statistics Canada releases July consumer price inflation Monday at 8:30am ET. The Street expects +0.5% from June and 3.0% year-over-year, according to The Globe and Mail’s calendar. If realized, that consensus would mark a re-acceleration from June’s 2.8% headline reading.
June’s core measures printed at 1.8% (trim), 1.9% (median), and 2.6% (common). The Bank of Canada held its policy rate at 2.25% in July and does not meet again until September 2, which means Monday’s CPI will help shape September rate expectations rather than trigger an immediate policy move.
Also Monday: Canadian new motor vehicle sales for June.
Tuesday: Housing Data Cluster
Tuesday brings a full slate of Canadian housing data for July: existing home sales, average prices, the MLS Home Price Index, and housing starts. Together, the cluster will provide fresh insight into how Canadian real estate markets performed in July.
Wednesday: FOMC Minutes at 2:00pm ET
The Federal Reserve releases minutes from its July meeting Wednesday afternoon at 2:00pm ET. Investors will parse the text for signals on the Fed’s next move after U.S. July CPI printed at +0.1% month-over-month and 3.4% year-over-year, with core inflation at 2.5% — its slowest reading since 2021. July U.S. producer prices, released last week, came in flat month-over-month.
Also Wednesday: Canadian household and mortgage credit data for June, plus construction investment figures.
Thursday and Friday: Prices, Retail Sales, and PMIs
Thursday releases Canada’s new housing price index for July, along with industrial product and raw materials price indexes. U.S. data includes weekly jobless claims and the Philadelphia Fed manufacturing survey.
Friday closes the calendar with Canadian retail sales for June, the Bank of Canada’s Q2 Senior Loan Officer Survey, and U.S. S&P Global PMIs.
A Thin Earnings Week on the TSX
Next week is light on Canadian earnings. A few smaller names report — New Found Gold on Monday, Northern Dynasty and Seabridge Gold on Tuesday, and Kraken Robotics on Thursday — but no TSX heavyweights. The week’s tone will be set by macro data, not company results.
On Deck: Bank Earnings and Jackson Hole
The following week brings Canada’s big-bank Q3 earnings starting August 25. BMO and Scotiabank report Tuesday August 25, National Bank on Wednesday August 26, and RBC, TD, and CIBC all scheduled for Thursday August 27.
Jackson Hole, the Kansas City Fed’s annual economic policy symposium, runs August 27–29. This year’s theme is “Financial Innovation: Implications for Payments and Policy.” The Fed chair is scheduled to deliver the keynote Friday August 28.
What We’re Watching
Monday’s CPI will be the defining data point of the week. If the print comes in at or above the Street’s 3.0% year-over-year consensus, it would mark a reversal of June’s downward momentum and complicate the Bank of Canada’s September deliberations. A cooler print would leave June’s disinflation trend intact heading into the September 2 decision.
The housing data cluster Tuesday will matter for Canadian bank stocks, REITs, and rate-sensitive sectors, and it feeds directly into how the market reads next week’s big-bank results.
The FOMC minutes Wednesday will be scrutinized for any shift in tone following the softer-than-expected U.S. inflation data released last week. The Fed’s trajectory remains a key driver of global risk sentiment and Canadian dollar positioning.
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Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions. Data as of August 14, 2026.
Written By
Nick Raffoul
Nick Raffoul is the Founder and Lead Analyst at Best Canadian Stocks. He holds a degree in Business Administration and has over a decade of writing experience. Nick began investing just before the COVID-19 market crash in March 2020, growing his personal portfolio 153% by 2024. In 2022, he founded Best Canadian Stocks to make data-driven investing accessible to all Canadians. His goal is to help all of his readers achieve financial freedom, maximize their spending power, and reach their financial goals. Whether you're maximizing your TFSA, building an RRSP to save for retirement, or looking to buy your first stock, Nick has your back. His work covers Canadian equities, dividend investing, tax-advantaged accounts, and personal finance.
