Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
01:00 China Manufacturing PMI March 49.0 49.3 50.2
01:00 China Non-Manufacturing PMI March 52.7 53.8
01:45 China Markit/Caixin Manufacturing PMI March 48 49.7
02:00 Japan Manufacturing PMI (Finally) March 50.1 49.1 49.1
07:15 Switzerland Retail Sales (MoM) February -0.6% Revised From -0.3% -0.4%
07:15 Switzerland Retail Sales Y/Y February -0.1% Revised From 0.2% 0.5% -0.2%
07:30 Switzerland Manufacturing PMI March 51.6 51 53.2
07:50 France Manufacturing PMI (Finally) March 50.2 49.6 49.6
07:55 Germany Manufacturing PMI (Finally) March 50.5 50.4 50.7
08:00 Eurozone Manufacturing PMI (Finally) March 51.2 51.4 51.6
08:30 United Kingdom Purchasing Manager Index Manufacturing March 50.8 51.2 51
The U.S. dollar traded mixed against the most major currencies ahead of the release of the U.S. economic data. Analysts expect that U.S. unemployment rate is expected to remain unchanged at 4.9% in March.
The U.S. economy is expected to add 205,000 jobs in March, after adding 242,000 jobs in February.
The final manufacturing purchasing managers' index is expected to rise to 51. 4 in March from 51.3 in February.
The ISM manufacturing purchasing managers' index is expected to increase to 50.7 in March from 49.5 in February.
The euro traded higher against the U.S. dollar after the mostly better-than-expected economic data from the Eurozone. Markit Economics released its final manufacturing purchasing managers' index (PMI) for the Eurozone on Friday. Eurozone's final manufacturing purchasing managers' index (PMI) climbed to 51.6 in March from 51.2 in February, up from the preliminary reading of 51.4.
The rise was driven by a faster growth in production and new orders.
"Although the PMI ticked higher, March still saw the second-weakest improvement in manufacturing conditions seen for just over a year. The data suggest manufacturing grew by only around 0.2% in the first quarter, acting as a drag on the wider economy," Chris Williamson, Chief Economist at Markit said.
"Policymakers will also be worried by the further intensification of deflationary pressures in manufacturing supply chains, with prices charged at the factory gate falling at the steepest rate since late-2009," he added.
Germany's final Markit/BME manufacturing purchasing managers' index (PMI) rose to 50.7 in March from 50.5 in February, up from the preliminary reading of 50.4. The index was mainly driven by rises in output and new business. Employment declined in March.
France's final manufacturing purchasing managers' index (PMI) decreased to 49.6 in March from 50.2 in February, in line with the preliminary reading. The index was driven by drops in new business and output prices. Output rose slightly.
The British pound traded lower against the U.S. dollar after the release of the weaker-than-expected manufacturing PMI data from the U.K. Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Friday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. increased to 51.0 in March from 50.8 in February, missing expectations for a rise to 51.2.
The increase was driven by a rise in new business.
"The UK manufacturing sector remained in the doldrums during the opening quarter of the year. Although March saw modest improvements in the trends for production and new orders, industry is still hovering close to the stagnation mark and will struggle to make a meaningful contribution to the next set of GDP growth figures," Markit's Senior Economist Rob Dobson said.
The Swiss franc traded higher against the U.S. dollar. Credit Suisse and procure.ch released their manufacturing purchasing managers' index (PMI) for Switzerland on Friday. The manufacturing purchasing managers' index in Switzerland climbed to 53.2 in March from 51.6 in February, beating expectations for a decrease to 51.0. It was the highest level since October 2014.
The Federal Statistical Office released its retail sales data for Switzerland on Friday. Retail sales in Switzerland were down at an annual rate of 0.2% in February, missing expectations for a 0.5% rise, after a 0.1% decrease in January. January's figure was revised down from a 0.2% increase.
On a monthly basis, retail sales fell by 0.4% in February, after a 0.6% drop in January. January's figure was revised down from a 0.3% fall.
EUR/USD: the currency pair increased to $1.1437
GBP/USD: the currency pair declined to $1.4274
USD/JPY: the currency pair fell to Y111.99
The most important news that are expected (GMT0):
12:30 U.S. Average hourly earnings March -0.1% 0.2%
12:30 U.S. Average workweek March 34.4 34.5
12:30 U.S. Unemployment Rate March 4.9% 4.9%
12:30 U.S. Nonfarm Payrolls March 242 205
13:45 U.S. Manufacturing PMI (Finally) March 51.3 51.4
14:00 U.S. Construction Spending, m/m February 1.5% 0.1%
14:00 U.S. ISM Manufacturing March 49.5 50.7
14:00 U.S. Reuters/Michigan Consumer Sentiment Index (Finally) March 91.7 90.5
16:00 U.S. FOMC Member Mester Speaks