Canada's manufacturing sales report on Friday

The manufacturing sales report on Friday is the only top tier release in Canada this week. On the monetary policy front, all will be quiet for a couple more weeks (next scheduled BoC speech is on Aug 25). 

"For June manufacturing sales, we expect a moderate 0.6%m/m gain after the soft 0.1% May print," notes RBC Capital Markets.

A rebound in the durable goods component is expected to be a key contributor after a weak start to Q2, while non-durable sales are expected to hold up. Such an outcome would still leave manufacturing sales down considerably in Q2 however.