US: ISM non-manufacturing and ADP employment data awaited - TDS

Analysts at TDS expect the US ISM non-manufacturing index to edge lower to 58.6 in March from 59.5 (market: 59.0), indicating a more modest expansion in the service sector.

Key Quotes

“The market expects the ADP employment report to print at 210k in March while February factory orders are expected to post a 1.7% advance, due in part to the preliminary 3.1% increase in durable goods orders.”

“We are also scheduled to hear from St Louis Fed President Bullard and Cleveland Fed President Mester. Mester is a 2018 voter and has been floated as a potential candidate for Vice Chair, however her speech will focus on diversity. Bullard will be speaking about monetary policy but he is not a voter this year.”