Today is a very quiet day in terms of data releases. The most important release today is the Sentix investor confidence for March, which we estimate rose from 17.9 from 17.4 in February, as stock markets have been resilient to political uncertainty so far.
On Friday, the US jobs report for February is due. We estimate non-farm payrolls rose 190,000, that the unemployment rate was unchanged at 4.8% and growth in average hourly earnings rebounded to 2.8% y/y from 2.5%, which should be sufficient for the Fed to hike.
In the euro area, we expect the ECB to stick to its dovish communication at its meeting on Thursday. Although the ECB has hit its 2% inflation target, there are still no signs of an upward trend in underlying prices.
No market movers in the Scandis today but in Norway, keep an eye on the regional network survey tomorrow and inflation data for February on Friday.
To read the entire report Please click on the pdf File Below