The US-China trade dispute continues to be on the radar.
Focus will revert to economic key figures, as the US employment report is due for release today. Wage growth will take centre stage. A drop in the hourly earnings growth in February to 2.6% y/y from 2.8% y/y eased inflation concerns, but they might flare up again if wage growth moves back up. Also keep an eye on the unemployment rate, which is expected by consensus to drop to an 18-year low of 4.0%. On the payroll number, consensus expects a rise of 185k following a strong 313k print in February.
German industrial production is due for release this morning. Yesterday German factory orders disappointed somewhat, rising only 0.3% m/m (consensus 1.5% m/m), which suggests there is some downside risk to the industrial production number as well. The softer orders generally confirm the picture of decelerating euro area growth.
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