Non-Manufacturing PMI registered 56.9 percent in February, 0.2 percentage point higher than the January reading of 56.7 percent. Analysts were forecasting decline to 56.5. This represents continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased to 59.4 percent, which is 2.1 percentage points lower than the January reading of 61.5 percent, reflecting growth for the 67th consecutive month at a slower rate.

On Friday NFP and Trade Balance figures were released. Total nonfarm payroll employment rose by 295,000 in February, compared with an average monthly gain of 266,000 over the prior 12 months. Analysts were anticipating smaller increase by 240,000. Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining declined over the month. Unemployment rate edged down to 5.5%, beating expectations on a decline to 5.6%.

Separate report on Trade Balance showed that that the goods and services deficit was $41.8 billion in January, in line with market forecasts and down $3.8 billion from $45.6 billion in December, revised. January exports were $189.4 billion, down $5.6 billion from December. January imports were $231.2 billion, down $9.4 billion from December.

Thurday's US session brought Unemployment Claims figures. In the week ending February 28, the advance figure for seasonally adjusted initial claims was 320,000, an increase of 7,000 from the previous week's unrevised level of 313,000. Analysts were anticipating decrease to 293,000. The 4-week moving average was 304,750, an increase of 10,250 from the previous week's unrevised average of 294,500. 

This week markets will be looking at:

JOLTS Job Openings (Tuesday 15:00)

Retail Sales (Thursday 13:30)

Unemployment Claims (Thursday 13:30)

PPI (Friday 13:30)

Prelim UoM Consumer Sentiment (Friday 15:00)