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What will move markets this week
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Loading...1. US Non Farm Payrolls and Employment report
The U.S. Labor Department will release the nonfarm payrolls report for March at 8:30AM ET (1230GMT) on Friday, and it will be watched more for what it says about wages than hiring.
The consensus forecast is that the data will show jobs growth of 198,000, after adding 313,000 positions in February, while the unemployment rate is forecast to dip to 4.0% from 4.1%.
However, most of the focus will likely be on average hourly earnings figures, which are expected to rise 0.2%, following a gain of 0.1% a month earlier. On an annualized basis, wages are forecast to increase 2.7%, a tad faster than the 2.6% increase recorded in February.
A pickup in wages is usually a sign of rising inflationary pressures, which could support the case for a faster pace of rate hikes from the Fed in the months ahead.
This week's calendar also features reports on ISM manufacturing and service sector growth, ADP private sector payrolls, auto sales, construction spending, trade figures as well as factory orders.
2. Euro Zone Flash Inflation
The euro zone will publish flash inflation figures for March at 0900GMT (5:00AM ET) Wednesday.
The consensus forecast is that the report will show consumer prices rose 1.4%, quicker than the 1.1% gain seen in February.
Even if inflation remains short of the European Central Bank's target of almost 2%, its policymakers are now debating whether to end lavish bond buys later this year.
3. UK PMI data
The UK will release readings on March manufacturing sector activity at 0830GMT (4:30AM ET) on Tuesday, followed by a report on the construction sector on Wednesday and the services sector on Thursday.
The manufacturing PMI is forecast to dip to 54.8 from 55.2 a month earlier, construction activity is expected to weaken slightly to 51.2 from 51.4, while a survey on Britain's giant services sector is forecast to slip to 54.2 from 54.5.
Politics is also likely to be in focus, especially as the Brexit negotiations enter a key phase with a just a year to go until the deadline to agree to an official deal is reached.
4. Reserve Bank of Australia Policy Meeting
The Reserve Bank of Australia's (RBA) latest interest rate decision is due on Tuesday at 0430GMT.
Most economists expect the central bank to keep rates unchanged at the current record-low of 1.5% for the 18th straight meeting and maintain its neutral policy stance.
Policymakers are also expected to sound less confident that the economy would grow at 3% or more this year, in another sign rates will likely remain on hold for months to come.
Data on retail sales and the trade balance published later in the week should also capture some attention.
Trader Nikolay Georgiev Read more:
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