According to analysts at Danske Bank, the key focus today will be the US labour market report.

“We think average hourly earnings rose +0.25% m/m in February, which means an increase in the annual growth rate to 3.3% y/y, up from 3.2%, while we expect the change in nonfarm payrolls to come in at 190k. Regarding nonfarm payrolls, it seems employment growth has reached its high and has stabilised around its current level of 1.7% y/y. At the moment, the labour market is still strong, but in our view it is important to keep an eye on deceleration in employment.”