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Investing.com - After a recent batch of disappointing U.S. economic data, the February jobs report is the main event for markets in the week ahead, as investors look for further hints on the strength of the economy.
This week is also peppered with a handful of appearances from Federal Reserve officials, including Chairman Jerome Powell.
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In earnings, there are a number of big-name retailers, such as Target (NYSE:TGT), reporting results in what will be the last big week of the fourth-quarter earnings season.
Elsewhere, in Europe, markets are keeping an eye on the European Central Bank's monetary policy meeting for further guidance on when the central bank plans to start raising interest rates.
Meanwhile, in Asia, China is slated to release what will be closely watched monthly trade figures. Investors will study the data to see if the ongoing trade conflict with the U.S. had any impact on exports and imports in February.
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 February at 8:30AM ET (13:30 GMT) on Friday.
The consensus forecast is that the data will show jobs growth of 180,000, after adding 304,000 positions in January, while the unemployment rate is seen dipping to 3.9% from 4.0%.
However, most of the focus will likely be on average hourly earnings figures, which are expected to rise 3.3% from a year earlier, a tad quicker than the 3.2% increase reported in January.
This week's calendar also features the ISM survey on service sector activity, as well as reports on new home sales, building permits, and construction spending.
A batch of underwhelming economic data, including retail sales and manufacturing activity, have underscored expectations for weaker growth momentum in the first quarter. The Atlanta Federal Reserve’s GDPNow model showed an estimate of just 0.3% for the first three months of 2019.
2. Fed Speakers
A number of Fed speeches will get market attention in the week ahead, as traders watch for further clues on interest rates.
Topping the agenda will be remarks from Fed Chair Jerome Powell, who will be speaking Friday about monetary policy normalization at the Stanford Institute for Economic Policy Research Economic Summit, in California, at 8:00PM ET.
Powell last week repeated the central bank’s recent mantra of pledging patience in the face of conflicting economic signals and subdued inflation.
Speeches from New York Fed President John Williams (NYSE:WMB), Boston Fed President Eric Rosengren, Cleveland Fed President Loretta Mester, and Fed Governor Lael Brainard will also be in focus.