In the US session ADP job figures and Trade Balance data was published. Private sector employment increased by 235,000 jobs from January to February according to the February ADP National Employment Report.“The labor market continues to experience uninterrupted growth,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “We see persistent gains across most industries with leisure and hospitality and retail leading the way as consumer spending kicked up. At this pace of job growth employers will soon become hard-pressed to find qualified workers.”
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $56.6 billion in January, up $2.7 billion from $53.9 billion in December, revised. January exports were $200.9 billion, $2.7 billion less than December exports. January imports were $257.5 billion, down less than $0.1 billion from December imports. The January increase in the goods and services deficit reflected an increase in the goods deficit of $2.8 billion to $76.5 billion and an increase in the services surplus of $0.1 billion to $19.9 billion.
Focus of tomorrow's session will be on ECB interest rate decision and the following press conference, though no changes are expected. In the US session Unemployment Claims figures will be released. Analysts predict increase to 220,000.
Figures to watch:
Minimum Bid Rate/ ECB Press Conference (Thursday 14:30)
Unemployment Claims (Thursday 14:30)