Investors are preparing for a busy week of trade with several key events on the horizon. First and foremost, the latest set of US jobs numbers is due for release on Friday. After January’s blockbuster jobs data, printing north of 500,000, February’s figures are expected to moderate at 200K. The unemployment rate is forecast to hold steady at a 5-decade low of 3.4%.
Remaining in the US, Fed chairman Jay Powell will testify in front of the Senate and House of Representatives on Tuesday and Wednesday, respectively. His words will be closely monitored by markets to gauge how the central banker has interpreted the strong run of US data recently.
Elsewhere, UK data on Friday will show how the economy fared in January after it narrowly avoided a recession in the final quarter of 2022. GDP numbers are due to show a 0.1% gain in the first month of 2023. There will be 3 central bank announcements of note, the Bank of Japan, Canada and the Reserve Bank of Australia will all deliver decisions this week.
Written by Viv Savani. 8:11am, March 6th 2023
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