Research Team at BBH, suggests that the March US jobs report will be the focus for markets today.
Key Quotes
“Consensus is 205k vs. 242k in February. We think there is risk of an asymmetric market reaction. That is, a strong jobs number probably won’t impact the bond market or the dollar very much since Yellen has already played her dovish hand. However, a weak number could see further selling of the dollar and a rally in the bond market.
During the North American session, we will get the March ISM manufacturing PMI, February construction spending, March auto sales, and final March Michigan consumer sentiment. Of note, the 1- and 10-year inflation expectations in the Michigan report will be of interest. Both stood at 2.7% in the preliminary report. The Fed’s Mester speaks in New York.”
(Market News Provided by FXstreet)