Morning, Traders!
It is Friday the 10th of March. It's all about Non-Farm Payrolls today, but there are some other things to look out for.
Sentiment
This morning, the dollar index traded in a narrow range, while Treasuries extended Thursday's gains amid a flight to safety.
European bonds tracked the previous day's moves in the United States, as concern about pockets of trouble in the US banking sector spread overseas.
The yen fell as the Bank of Japan maintained its easing policy. Today's key data is nonfarm payrolls in the United States.
European stock markets fell the most in a month, while US equity futures were mixed.
According to median analyst expectations, Nonfarm Payrolls are expected to rise by 225,000 in February. The report will be closely scrutinized for indications that it supports or undermines market pricing for a 50-basis-point rate hike at the FOMC meeting in March.
For a full prep article for today's Nonfarm Payrolls report, READ HERE
President Joe Biden's budget proposal touted his ideas for reducing the budget deficit, but it couldn't change the harsh arithmetic of government debt: It's only going to get worse.
According to new research from the Federal Reserve Bank of New York, inflation is expected to last longer than previously anticipated.
Docket
08:30 AM ET
US February Employment Report
Nonfarm Payrolls - Median Forecast 225K | Prior 517K | Range: 325K / 80K
Unemployment Rate - Median Forecast 3.4% | Prior 3.4% | Range: 3.5% / 3.3%
Average Earnings MoM - Median Forecast 0.3% | Prior 0.3% | Range: 0.5% /0.2%
Average Workweek hours - Median Forecast 24.6 | Prior 34.7 | Range: 34.7 / 34.4
Canadian February Employment Report
Employment Change - Median Forecast 10K | Prior 150K | Range: 40K / -25K
Unemployment Rate - Median Forecast 5.1% | Prior 5% | Range: 5.1% / 4.9%
Good Luck!
