The week ahead – All eyes on March Employment Data

Key Upcoming Events:

• EU Inflation Rate Flash 12:00 (GMT+3) Wednesday 3rd April
• US ISM Services PMI 17:00 (GMT+3) Wednesday 3rd April
• US Non-Farm Payrolls 15:30 (GMT+3) Friday 5th April

Jobs Data in Focus: Market attention is centered around employment data, with several crucial labor market reports lined up. The week kicks off with the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday, followed by ADP’s private employment report for March on Wednesday. The highlight of the week will be the U.S. Non-farm payrolls data on Friday, with economists anticipating an addition of 200K jobs in March, a slowdown from February’s 275K.

Fed Officials’ Speeches: The week also features appearances by several Federal Reserve officials, including Chair Jerome Powell. Their insights are eagerly anticipated for clues on the Fed’s rate path and economic outlook.

Eurozone Inflation Data: Flash inflation figures for March from the Eurozone are due Wednesday. High inflation levels need to decrease for the European Central Bank (ECB) to consider a summer rate cut. This report is critical for future ECB actions and market expectations.

Currency Intervention Watch: Japan’s monetary authorities remain vigilant as the yen weakens past critical levels. Japanese Prime Minister Fumio Kishida emphasized the government’s readiness to address excessive fluctuations in the currency market and mentioned the government’s commitment to monitoring the yen’s performance closely.

This week the markets will be closely following economic data & earnings reports such as:

Monday:

• JP Tankan Large Manufacturers Index Q1
• US ISM Manufacturing PMI MAR
• Earnings Reports:
  • PVH Corp.

Tuesday:

• AU RBA Meeting Minutes
• DE Inflation Rate YoY Prel MAR
• US JOLTs Job Openings FEB
• US Factory Orders MoM FEB
• Earnings Reports:
  • Paychex, Inc.

Wednesday:

• EU Inflation Rate MoM Flash MAR
• EU Unemployment Rate FEB
• US ADP Employment Change MAR
• US ISM Services PMI MAR
• OPEC and non-OPEC Ministerial Meeting
• Earnings Reports:
  • Acuity Brands, Inc.

Thursday:

• EU HCOB Services PMI Final MAR
• GB S&P Global Services PMI Final MAR
• Earnings Reports:
  • Lamb Weston Holdings, Inc.
  • RPM International Inc.
  • Conagra Brands, Inc.

Friday:

• EU Retail Sales MoM FEB         
• CA Unemployment Rate MAR 
• US Non-Farm Payrolls MAR

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