The Brexit saga, U.S.-China trade talks, and U.S. payroll numbers should feature prominently this week. As for Brexit, your guess is as good as ours given the sorry state of affairs currently. On the trade front, the Financial Times reports “U.S.-China trade talks continue this week when Beijing’s top trade negotiator, Liu He, travels to Washington for more trade discussions on Wednesday.
The world’s two biggest economies wrapped up a lightning round of trade talks in Beijing on Friday, with the White House saying afterwards that the two parties ‘continued to make progress’.” On the U.S. economic calendar, the week starts off with a string of new reports on retail sales, manufacturing PMI, construction spending, and light vehicle sales on Monday. But investors will be paying particularly close attention to the U.S. jobs report due out on Friday given the unexpectedly weak payroll gains reported for February (+20,000). The consensus forecast is that U.S. employers added 170,000 nonfarm payrolls in March while the unemployment rate remained low at 3.8 percent. Please note that the next ISRI Market Report will be published on April 15, 2019 as we head to Los Angeles later this week for the best-ever ISRI 2019 Convention and Expo, the world’s largest recycling event! We hope to see you there!
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