Additional dealer estimates ahead...>

US DATA PREVIEW: Additional dealer estimates ahead Friday's headline March

payroll report:

- Nomura: +170k after huge miss last month (+20k) largely due to "weather

distortions". Distortions "have mostly dissipated in March, incoming

labor-related data suggest pace of job creation may be slowing, consistent w/

view that the labor market strength will likely moderate this year."

- Barclays: +175k; returning "payroll gains to a pace  in line with their

underlying trend following Feb's meager 20k increase, while "trend employ growth

should be sufficient to push down unemployment rate by another 0.1pp to 3.7%."

- TD Securities estimates a gain of 165k jobs as they expect a "recovery in

construction sector jobs following a sharp decline that probably reflected

adverse weather effects. TD looks for unemploy rate to remain steady at 3.8%,

while wages should rise by 'soft' 0.3% m/m, bringing down annual print to 3.3%."

- Danske: +190k; "average hourly earnings rose +0.25% m/m in March, which means

an increase in the annual growth rate to 3.3% y/y, down from 3.4% y/y in

February."