Markets will likely be focused on tomorrow’s US monthly labour market report, including nonfarm payrolls and average earnings growth.As such, today’s data releases will probably receive limited attention. That said, US factory orders for February will be noted for signs that economic activity may have slowed in Q1, as indicated by some recent data prints which have been on the soft side of expectations. Lloyds Bank says they have pencilled in a fall of 0.5% on the back of the 0.6% decline in January, which may be an indication of the stronger dollar impacting on demand. “US trade data for February are also due and we look for a slight widening of the deficit to $42.0bn from $41.8bn, but it is unclear how much of the distortion to January’s figures due to the strikes on West Coast ports will unwind”, said Lloyds Bank in a report on Thursday

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