020 7898 0500The dollar was fairly subdued yesterday. The only data releases of note were the PMIs for manufacturing and construction. Both fell fairly close to their forecast, with construction spending rising by 0.8% for the month of February. This was driven by an increase in residential spending in both the public and private sectors.
The key data piece of the week are Friday’s non-farm payrolls. They are forecast to increase by 180,000 and unemployment is expected to come in at around 4.7%, the same as for the previous month. This is likely to provide support for the labour market as well as further interest rate hikes.
