Investing.com - The economic calendar for the week ending April 4 brings a fresh look at the U.S. labor market, as well as a report on euro zone inflation at a time when European Central Bank officials are highlighting growing concerns over the threat of deflation in the region. Here are some key events to watch:
U.S. nonfarm payrolls report
Market watchers are expecting the latest U.S. employment report for March to show solid jobs growth, with a payroll gain of 200,000, after 175,000 jobs were added in February. A solid reading would underline the view that the U.S. economy is shrugging off the effects of a weather induced slowdown and fuel optimism over the outlook for growth going into the second quarter.
Euro zone inflation report
The euro zone is to release data on the annual rate of consumer inflation on Monday. The euro zone’s statistics agency said earlier this month that prices rose 0.7% in February compared with a year earlier. The ECB targets an inflation rate of just under 2%.The consensus forecast is for the inflation rate to tick down to 0.6% in March.
ECB policy meeting and press conference
The ECB is to hold its monthly monetary policy meeting and post-policy meeting press conference on Thursday. The central bank has said it sees little risk of deflation in the euro area, but in recent weeks some ECB board members have begun to highlight its risks more openly.
Last Tuesday ECB President Mario Draghi that the bank stood ready to act if inflation slipped lower than the ECB expected.
U.K. PMI surveys
The U.K. is to release PMI surveys on manufacturing, services and construction sector activity this week. Last month, solid readings from the three PMI surveys of economic activity indicated that the recovery remains on track. The three PMI surveys collectively signaled a record increase in job creation in February and forecasters are expecting another month of healthy growth.
U.S. ISM surveys
The Institute for Supply Management is to publish its March report on U.S. manufacturing activity on Tuesday and its non-manufacturing report on Thursday. The consensus forecast is for an uptick in manufacturing activity and an unchanged reading in non-manufacturing activity. Economists will be focusing on the employment component of both indexes, ahead of Friday’s nonfarm payrolls report.