US data will be very much in focus next week: 28 March-10 April 2015We expect the ISM manufacturing index to fall, reflecting that the factory sector has lost momentum in early 2015. Our forecast for nonfarm payrolls (on Good Friday) is weaker than the recent trend as we are looking for a lagged response to the stronger USD, bad weather and supply chain disruptions. Euro-area inflation will likely remain negative year-over-year in March.
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