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What to expect in the financial week ahead

Added: (Tue Apr 02 2019)

Pressbox (Press Release) - Probably the most talked about part of the week will be upon us on Friday, when the Bureau of labor releases the statistics of the March jobs report. Global economists are predicting that the labor market has bounced back in March after a very disappointing February.
The United States economy added roughly 20,000 jobs in February, but is expected to have increased that number to 178,000 nonfarm payrolls in March, according to leading analysts at Bloomberg. The Unemployment rate is expected to have stayed steady at 3.8%. Barclays made a statement on Friday stating “We view the February weakness as largely transitory for two reasons: furloughed workers seeking temporary part-time employment and weather effects had both acted to pull forward employment growth into January and thus contributed to the subsequent weakness in February,”
Capital economists are predicting boosted March data due to good weather, but still are remaining cautious “With the weather returning to seasonal norms in March, we’d expect some bounce-back in March employment,” the research firm wrote in a note on Thursday. “In all, we expect non-farm payroll growth to rebound in March, but only to around 150,000. That would suggest that, after averaging 220,000 in 2018, the average pace of monthly payroll gains is now trending lower. What’s more, we expect that slowdown to gather pace as the year progresses.”
Additional data to look at this week, will be the retail sales data for February which should be released today. Again a similar situation to the Jobs report, economists are expecting a rebound for retail sales data “We expect a further recovery in underlying retail sales in February, but that would still be consistent with consumption growth slowing substantially in the first quarter,” Capital Economics said.

Economic calendar for this week
Monday 1st April: Retail Sales Advance month-on-month, February (0.3% expected, 0.2% prior); Retail Sales excluding Auto month-on-month, February (0.4% expected, 0.9% prior); Retail Sales excluding Auto and Gas month-on-month, February (0.3% expected, 1.2% prior); Markit US Manufacturing PMI, March (52.5 expected, 52.5 prior); ISM Manufacturing, March (54.5 expected, 54.2 prior); ISM Prices Paid, March (51.3 expected, 49.4 prior); Construction Spending month-on-month, February (-0.2% expected, 1.3% prior)
Tuesday 2nd April: Durable Goods Orders, February (-1.8% expected, 0.3% prior); Durables excluding Transportation, February (0.1% expected, -0.2% prior); Capital Goods Orders Nondefense excluding Air, February (0.1% expected, 0.8% prior)
Wednesday 3rd April: MBA Mortgage Applications, week ending March 29 (8.9% prior); ADP Employment Change, March (175,000 expected, 183,000 prior); Markit US Services PMI, March (54.8 expected, 54.8 prior); Markit US Composite PMI, March (54.3 prior); ISM Non-Manufacturing Index, March (58.0 expected, 59.7 prior)
Thursday 4th April: Initial Jobless Claims, week ending March 30 (216,000 expected, 211,000 prior); Continuing Claims, week ending March 23 (1.756 million prior); Bloomberg Consumer Comfort, week ending March 31 (60.0 prior)
Friday 5th April: Change in Nonfarm Payrolls, March (178,000 expected, 20,000 prior); Change in Manufacturing Payrolls, March (10,000 expected, 4,000 prior); Unemployment Rate, March (3.8% expected, 3.8% prior)
Earnings calendar
Tuesday 2nd April: Walgreens Boots Alliance before market open; GameStop
Wednesday 3rd April: Signet Jewelers before market open
Thursday 4th April: Constellation Brands before market open

Hannah chew – Walter International

Submitted by:Walterinternational
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