Week ahead: US jobs report, Fed’s Powell in the spotlight

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Consensus was for the pace of hiring to have downshifted down to 215,000 in February, following the previous month’s blowout – and possibly to a certain extent weather-induced – gain of 517,000.

Investors were also expectant ahead of the JOLTS report for January due out on Wednesday.

Data from multiple private sector staffing firms appeared to point to a lower level of job openings in the US than the official data, but up until now the latter had held near record highs.

Worth noting, some economists believed it to be nigh impossible to correctly predict the JOLTS data from one month to the next.

Federal Reserve Governor Jerome Powell’s semi-annual report to Congress, at 1500 GMT on Tuesday, was expected to be the week’s other key risk event.

“February’s nonfarm payrolls looms as a pivot point for markets. Last week’s stronger-than-expected ISM numbers added to evidence that the December dip in US activity was the exception, not the January bounce, intensifying risks that the Fed will hike beyond market pricing,” economists at Barclays Research said.

“Markets will also watch Powell’s semi-annual testimony for signs of 50bp being a possibility. While term premium on 10y USTs should be attractive, we think the direction of the labor market/inflation data and fiscal outlook warrants caution.”

But China wouldn’t be far from from investors’ minds as they kept tabs on the proceedings of the National People’s Congress which was scheduled to run until 13 March.

Several key reports were due out from the Asian giant too, including for foreign trade, on Tuesday, and on inflation come Thursday.

Elsewhere in Asia, rate-setters in Australia were due to meet on Tuesday, in Malaysia on Thursday and in Japan on Friday.

On home shores, the week would be back-end loaded with a reading for January gross domestic product growth scheduled for Friday.

Consensus was for a month-on-month rate of expansion of 0.1% on the back of growth in construction and services.

Nonetheless, economists at Barclays Research believed the underlying trend to be pointing downwards as a result of the combined drag from energy prices and higher mortgage rates.

In the euro area, the market spotlight would likely be on German factory orders figures for January, on Tuesday, followed by retail sales and industrial production data, also for Germany, due out on the next day.

Monday 6 March

FINALS

Clarkson, Bellevue Healthcare Trust (Red)

Power Metal Resources, BATM Advanced Communications Ltd., ROS Agro GDR REG S

INTERIMS

Ashoka India Equity Investment Trust, Craneware, Seeing Machines Ltd. NPV (DI)

Greatland Gold, Alternative Income Reit

Mac Alpha Limited NPV (DI), ADVFN

Q4

ROS Agro GDR REG S

TRADING ANNOUNCEMENTS

Trellus Health, Fisher (James) & Sons

Telecom Egypt SAE GDS (Regs), Fusion Antibodies, 1Spatial

ANNUAL REPORT

Anglo American, Conduit Holdings Limited Com Shs (DI), Bellevue Healthcare Trust (Red)

DRILLING REPORT

Kavango Resources, Conroy Gold & Natural Resources (CDI), IOG

INTERIM DIVIDEND PAYMENT DATE

Henderson Smaller Companies Inv Trust, PayPoint

QUARTERLY EX-DIVIDEND DATE

General Electric Co (CDI)

UK ECONOMIC ANNOUNCEMENTS

PMI Construction (09:30)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Retail Sales (EU) (10:00)

Factory Orders (US) (15:00)

Tuesday 7 March

FINALS

Foxtons Group, IWG, Just Group, Keller Group, Greggs, Fresnillo, Johnson Service Group, H&T Group, STV Group, Elementis, Reach

INTERIMS

Revolution Bars Group, DotDigital Group

Q3

Ashtead Group

EGMs

MHP SA GDR (Reg S)

INTERIM DIVIDEND PAYMENT DATE

Schroder Real Estate Investment Trust Ltd

QUARTERLY EX-DIVIDEND DATE

Tetragon Financial Group Limited

UK ECONOMIC ANNOUNCEMENTS

BRC Sales Monitor (00:01)

Halifax House Price Index (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Factory Orders (GER) (07:00)

Wholesales Inventories (US) (15:00)

Consumer Credit (US) (20:00

Wednesday 8 March

FINALS

Hill and Smith, Hiscox Limited (DI), Somero Enterprises Inc. (DI), Legal & General Group, Ibstock, Quilter, Bakkavor Group, Spirent Communications, Breedon Group, Headlam Group, Tullow Oil, TT Electronics, CLS Holdings, Tclarke

INTERIMS

Darktrace, Galliford Try, Netcall

AGMs

Jersey Electricity ‘A’ Shares, Henderson Opportunities Trust

EGMs

Globalworth Real Estate Investments Limited

GMs

Amigo Holdings

FINAL DIVIDEND PAYMENT DATE

Aberforth Smaller Companies Trust

INTERIM DIVIDEND PAYMENT DATE

Aberforth Split Level Income Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Retail Sales (GER) (07:00)

Industrial Production (GER) (07:00)

Gross Domestic Product (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Balance of Trade (US) (13:30)

Crude Oil Inventories (US) (15:30)

Thursday 9 March

FINALS

Harbour Energy, Forterra, Wheaton Precious Metals Corp.NPV (CDI), M&G, Oakley Capital Investments Ltd. (DI), Spirax-Sarco Engineering, Pagegroup, Franchise Brands, Aviva, Informa, Convatec Group, Digital 9 Infrastructure NPV, Network International Holdings, Robert Walters, Entain

INTERIMS

Kier Group, Volution Group, Hansard Global, Seraphim Space Investment Trust

AGMs

Ct Uk Capital and Income Investment Trust

GMs

Zamaz

FINAL EX-DIVIDEND DATE

BlackRock World Mining Trust, Rio Tinto, Athelney Trust, Woodside Energy Group Ltd NPV (DI), Law Debenture Corp., Apax Global Alpha Limited

INTERIM EX-DIVIDEND DATE

BHP Group Limited NPV (DI), Crown Place VCT, JPMorgan Global Markets Emerging Income Trust, PZ Cussons, Beazley, Warehouse Reit, Alliance Trust, Ricardo, Melrose Industries, Ground Rents Income Fund, Renishaw, Tritax Big Box Reit, SDCL Energy Efficiency Income Trust, DX (Group), Pantheon Infrastructure, Ct Uk Capital and Income Investment Trust, Brooks Macdonald Group, Ediston Property Investment Company, Colefax Group, South32 Limited (DI), Mid Wynd International Inv Trust, Dechra Pharmaceuticals, LondonMetric Property

INTERIM DIVIDEND PAYMENT DATE

SSE

SPECIAL EX-DIVIDEND DATE

Foresight Solar & Technology VCT

QUARTERLY EX-DIVIDEND DATE

RM Infrastructure Income, Energean, Aberdeen Diversified Income and Growth Trust, Premier Miton Global Renewables Trust, Assura, Alpha Real Trust Ltd.

QUARTERLY PAYMENT DATE

Chenavari Toro Income Fund Limited NPV

UK ECONOMIC ANNOUNCEMENTS

RICS Housing Market Survey (00:01)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Friday 10 March

INTERIMS

Mineral & Financial Investments Limited (DI)

AGMs

Atrato Onsite Energy

ANNUAL REPORT

BP, CRH (CDI)

FINAL DIVIDEND PAYMENT DATE

Ramsdens Holdings, Avon Protection, Victorian Plumbing Group

INTERIM EX-DIVIDEND DATE

Base Resources Ltd

INTERIM DIVIDEND PAYMENT DATE

LXI Reit, S&U, Residential Secure Income, Impax Environmental Markets, I3 Energy, Triple Point Vct 2011 A, Triple Point VCT 2011 ‘B’, Civitas Social Housing

SPECIAL DIVIDEND PAYMENT DATE

Victorian Plumbing Group

QUARTERLY PAYMENT DATE

INTERNATIONAL BUSINESS MACHINES CORPORATION COM STK USD0.20 (CDI)

UK ECONOMIC ANNOUNCEMENTS

Index of Services (07:00)

Gross Domestic Product (07:00)

Balance of Trade (07:00)

Industrial Production (07:00)

Manufacturing Production (07:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (GER) (07:00)

Non-Farm Payrolls (US) (13:30)

Unemployment Rate (US) (13:30)

U. of Michigan Confidence (Prelim) (US) (15:00)

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