08/23/2015 01:03 EDT | Updated 08/23/2016 05:59 EDT

Canadian Business: Five Things To Watch For This Week

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TORONTO — Five things to watch in Canadian business this week:

Stock Market: Traders will be keeping an even closer eye than usual on economic events at home and abroad after major indexes in Canada and the U.S. officially moved into correction territory last week, largely on fears of a greater than expected slowdown in China.

Housing: The Canadian Mortgage and Housing Corporation releases its 2015 second quarter financial report on Monday. In its recent Q2 house price analysis, the federal agency warned that Toronto, Regina and Winnipeg are at "high risk" of a housing correction.

Banks: Canada's big banks report their third-quarter earnings throughout the week, starting with the Bank of Montreal on Tuesday and ending with Scotiabank on Friday. The ongoing oil price plummet and a spate of bleak economic indicators in the first half of the year have sparked renewed concerns about the health of the banks.

Housing: Bank of Canada deputy governor Lawrence Schembri is in Kingston, Ont., on Tuesday to give a speech about the international perspective on the long-term evolution of house prices.

Statcan: The federal agency has an array of releases this week, including one on Wednesday about economic immigrants and another on Thursday on statistics for enterprises. On Friday, Statcan is out with its industrial product and raw materials price indexes for July.


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