US NFP and ECB to be market movers for the week – Danske Bank

In view of the analysts at Danske Bank, today is a very quiet day in terms of data releases nd suggests that the US NFP and ECB will be the key events for the week.

Key Quotes

“The most important release today is the Sentix investor confidence for March, which we estimate rose from 17.9 from 17.4 in February, as stock markets have been resilient to political uncertainty so far.”

“On Friday, the US jobs report for February is due. We estimate non-farm payrolls rose 190,000, that the unemployment rate was unchanged at 4.8% and growth in average hourly earnings rebounded to 2.8% y/y from 2.5%, which should be sufficient for the Fed to hike.”

“In the euro area, we expect the ECB to stick to its dovish communication at its meeting on Thursday. Although the ECB has hit its 2% inflation target, there are still no signs of an upward trend in underlying prices.”