On Friday, Retail PMI figures were released from Eurozone. Latest Eurozone Retail PMI data showed an almost unchanged level of sales in February compared to the month before, thereby ending a period of falling sales seen from November to January. By country, a rebound in sales in Germany was offset by further decreases in both France and Italy. At 50.1, the headline Markit Eurozone Retail PMI was at its highest level for four months in February, though consistent with only a negligible increase in sales. Retailers reported sales being lower in February than during the same month one year ago, which contrasted with year-on-year sales growth in January.
Focus of the US session was on
Trade Balance and
NFP figures. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that
the goods and services deficit was $45.7 billion in January, up $1.0 billion from $44.7 billion in December, revised. Deficit of $43.8 billion was anticipated. January exports were $176.5 billion, $3.8 billion less than December exports. January imports were $222.1 billion, $2.8 billion less than December imports.
Employers added more workers in February than projected but wages unexpectedly declined, dashing hopes that reduced slack in the labor market was starting to benefit all Americans. The 242,000 gain followed a 172,000 rise in January that was larger than previously estimated, a Labor Department report showed Friday. The jobless rate held at 4.9% as people entered the labor force and found work. Average hourly earnings dropped, the first monthly decline in more than a year.
On Monday, from Eurozone German Factory Orders figures will be released. Analysts are predicting 0.4% decrease. There will be no data releases in the US part of the session.
Figures to watch:
German Factory Orders (Monday 8:00)
