07:10 AM EDT, 03/09/2026 (MT Newswires) -- The main event this week in Canada will be the release of the February Labour Force Survey (LFS), said National Bank of Canada.

After a decline last month, the bank expects employment to have increased again, with an expected gain of 10,000. Despite this progression, the unemployment rate may have risen by two-tenths of a point to 6.7%.

This is because, after falling by no less than four-tenths of a point in the first month of the year, the participation rate may have risen again, from 65.0% to 65.2%, noted National Bank.

The week will also feature the publication of the January merchandise trade balance, stated the bank. The increase in the price of certain raw materials during the month, notably gold, should have resulted in a further increase in exports.

Combined with a decline in imports, this could lead to a reduction in the trade deficit to 250 million, it pointed out.

In other news, manufacturing sales may have contracted 3.3% month over month in January, with sharp decreases in the transportation equipment and machinery subsectors, added National Bank.

Other data for January will also be available, particularly wholesale trade sales and building permits, according to the bank.