Today focus will be on the US labour market report for February. We expect non-farm payrolls increased 160,000, below consensus of 195,000. Our forecast for employment growth is still faster than the trend growth in the labour force putting additional downward pressure on the unemployment rate. Key for the Fed is average hourly earnings, which have moved higher recently, and hence bolstered the Fed's confidence in the inflation outlook. However, the latest decline in both market- and survey-based inflation expectations has spooked some at the Fed. See more in our US labour market monitor: Slower jobs growth but not a disaster , 29 February.
Over the weekend, the annual meeting of China's National People's Congress (NPC) starts. Here, China is set to announce its plans to revive growth and map out economic goals for the next five years. The biggest take-away from the NPC is usually the GDP target but reforms to rebalance the economy will also be in focus.
In Sweden industrial and service production for January are due for release, see Scandi Markets.
To read the entire report Please click on the pdf File Below