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Market players will also be looking out for data on China’s manufacturing sector due on Tuesday, amid ongoing concerns over the health of the world’s second biggest economy.
Meanwhile, Monday’s euro zone inflation data will also be closely watched ahead of next month’s European Central Bank policy meeting.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. U.S. nonfarm payrolls report
The U.S. Labor Department will release its highly-anticipated report on February nonfarm payrolls at 13:30GMT, or 8:30AM ET, on Friday.
The consensus forecast is that the data will show jobs growth of 193,000 last month, following an increase of 151,000 in January, the unemployment rate is forecast to hold steady at 4.9%, while average hourly earnings are expected to rise 0.2% after climbing 0.5% a month earlier.
2. China manufacturing PMIs
The China Federation of Logistics and Purchasing is to release data on February manufacturing sector activity at 1:00GMT on Tuesday, or 8:00PM ET Monday, followed by the Caixin manufacturing index at 1:45GMT, or 8:45PM ET.
The official China’s manufacturing purchasing managers’ index is forecast to inch down 0.1 points to a three-year low of 49.3 in February, while the Caixin survey is expected to dip to 48.2 from 48.4 in the preceding month.
A reading below 50.0 indicates industry contraction.
3. Euro zone flash February inflation figures
The euro zone will publish flash inflation figures for February at 10:00GMT, or 5:00AM ET, Monday. The consensus forecast is that the report will show consumer prices inched up 0.1% this month, slowing from 0.3% a month earlier, while core prices are expected to rise 0.9%, compared to a gain of 1% in January.
European Central Bank Mario Draghi signaled recently that fresh easing measures could be rolled out as soon as the bank’s next meeting on March 10 in response to sluggish inflation and a weakening global economy.
4. U.S. ISM PMI surveys
The U.S. Institute of Supply Management is to release data on February manufacturing activity at 15:00GMT, or 10:00AM ET, on Tuesday. The gauge is expected to ease up 0.4 points to 48.6. Anything below 50.0 signals contraction.
Meanwhile, the ISM is to report on February service sector activity on Thursday, amid expectations for a modest decline. Service sector activity in the U.S. grew at the slowest pace in almost two years in January.
5. Reserve Bank of Australia policy meeting
The RBA’s latest interest rate decision is due on Tuesday at 3:30GMT, or 10:30PM ET Monday. Most economists expect no policy change, while some believe the central bank can surprise with a 25 basis point rate cut in an effort to boost inflation and spur economic activity.