07:14 AM EDT, 09/16/2024 (MT Newswires) -- Canada will release July manufacturing data at 8:30 a.m. ET on Monday.

RBC said it expects manufacturing sales to increase by 1.1% in July, consistent with Statistics Canada's flash estimate. Much of that was led by higher sales in oil and coal, as well as chemical subsectors.

The Canadian Real Estate Association (CREA) will publish the August resale housing statistics on Monday at 9 a.m. ET.

Early reports from regional housing boards haven't flagged a sharp resurgence in home resales in the wake of initial Bank of Canada interest rate cuts, stated RBC. More interest rate cuts are likely to stimulate homebuyer demand across the country, but the bank predicts this will be 2gradual."