In Canada, Ivey Purchasing Managers’ Index (PMI), Monthly Survey to rate the business conditions including employment, production, new orders, prices, supplier deliveries, and inventories reduce to 58.6 from 63.5 on the last month and indicates industry expansion.

Last week, Gross Domestic Product edged down 0.1% in November following no growth in October. This is the first decline since May 2011 which was contrary to economists expectations of 0.2% expansion. The main drops occurred in the energy sector with oil and gas sliding 2.5% but the manufacturing sector increased 0.6% on durable goods. Employment data were weak with a rise in the unemployment rate, but the excellent job figures from the US provided lots of hope. Will we see better results next month?

In the US, Unemployment Claims, weekly report that is important for monetary health, value new unemployment insurances over the last week, decrement is due from 381K down to 375K now.

Tensions around Iran’s military exercise in the straights of Hormuz keep oil prices from falling, and this supports the greenback. Mid-east violence could start in another region, between Syria, Lebanon and Israel. These themes will continue in 2012.

In the US, Daniel Tarullo, Federal Reserve Governor, is about to speak in Washington DC.

Last week was less optimistic for the Canadian economy with lower than forecasted GDP figures indicating slower growth of 0.2% and disappointing employment readings showing Canada lost 18,600 jobs instead of the 18,100 addition anticipated and rising unemployment rate reaching 7.4%. Is Canada losing its momentum?

G20 Meetings (Day 2), the Group of Twenty (G20) is an important global policy-making figure effective at the uppermost level, which impact the cash markets.

Last week, despite positive figures reflecting improvement in the Canadian economy, the BOC remains quite cautious. The last rate statement did not include any hints of rate hikes due to the high uncertainty in the global scene. Will the Canadian market escape the global financial turmoil?

In the US, Unemployment Claims, significant indicator of overall financial health, weekly report to value the number of unemployed that for the first time filed for insurance over the passing week, raise from 391K to  is expected now.

Last week GDP growth rate for July rose in line with expectations by 0.3%. This hardly cheered the loonie. Will the Canadian economy evade the current global slowdown?