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Investing.com - The March U.S. jobs report will be the main event for financial markets in the week ahead, as investors watch for further signals on the strength of the economy.
Besides the employment report, this week's calendar also features key U.S. retail sales figures as well as the latest data on manufacturing activity.
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The economic reports take on added significance amid recessionary warning signals from the U.S. bond market, where 10-year Treasury yields fell below three-month Treasury bill yields for the first time since 2007 earlier this month.
Meanwhile, trade talks between the United States and China will also keep investors on their toes this week, as Chinese Vice Premier Liu He comes to Washington to meet with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
There are also Brexit headlines to monitor as British Prime Minister Theresa May struggles to find a way to get her withdrawal deal through parliament.
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. Jobs Report
The U.S. Labor Department will release the nonfarm payrolls report for March at 8:30AM ET (12:30 GMT) on Friday.
The consensus forecast is that the data will show jobs growth of 175,000, after adding just 20,000 positions in February.
The unemployment rate is seen at 3.8%, unchanged from a month earlier.
However, most of the focus will likely be on average hourly earnings figures, which are expected to rise 3.4% from a year earlier, similar to the increase reported in February.
2. U.S. Retail Sales
The Commerce Department will release data on retail sales for February at 8:30AM ET (12:30 GMT) on Monday.
The consensus forecast is that the report will show retail sales inched up 0.3%, following a gain of 0.2% in January and December’s shocking decline.
Excluding the automobile sector, sales are expected to rise 0.4%, after climbing 0.9% in the preceding month.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Consumer spending accounts for as much as 70% of U.S. economic growth.
3. ISM Manufacturing Survey
The U.S. Institute of Supply Management will release data on March manufacturing sector activity at 10:00AM ET (14:00 GMT) on Monday.
Economists expect a reading of 54.2, unchanged from the month earlier.
Anything above 50.0 signals expansion, while readings below 50.0 indicate industry contraction.
Other top-tier economic data due this week includes durable goods orders, ADP (NASDAQ:ADP) private sector payrolls, as well as the ISM survey on service sector activity.