CIBC will releases its results for the quarter ended April 30 on Wednesday. The bank recently shuffled its leadership deck in a series of moves that included appointing Ed Dodig, CEO Victor Dodig’s brother, to head retail investment firm CIBC Wood Gundy.
Statistics Canada will release retail trade figures for March on Wednesday, followed by wholesale sales figures for March on Thursday.
Canada Mortgage and Housing Corporation will release its latest national mortgage and consumer credit trends report on Wednesday. Canadian home sales in April posted their first year-over-year increase since December 2017 as markets in Toronto and Montreal made gains.
Royal Bank results
Royal Bank of Canada will release its second-quarter results on Thursday. In February, the bank hiked its dividend and delivered a five per cent bump in quarterly profits despite “challenging market conditions” that weighed on some divisions and higher loan losses due to a “fallen angel” in the U.S. utility sector.
Statistics Canada will release its cannabis economic account for the first quarter on Thursday. Figures from the agency’s recent national cannabis survey showed that 5.3 million or 18 per cent of Canadians aged 15 years and older said they used pot within the last three months, an increase of 14 per cent who reported using cannabis a year earlier, before legalization in October 2018.