On tap for Friday: Nonfarm and......>

US DATA PREVIEW: On tap for Friday: Nonfarm and private payrolls, unemployment

rate and average hourly earnings for March; St. Louis and NY Fed GDP Nowcasts;

February consumer credit after the bell.

- Morgan Stanley economists "expect a normalization in March where we look for

net job gains of 153,000." MS expects average hourly earnings to "rise 0.2%,

lowering the year-over-year rate down to 3.3% from 3.4% in February" while the

unemployment rate should "remain at 3.8%."

- Bank of America Merrill Lynch economists expect job gains of 190k, they note a

"strong reading" from their private jobs tracker (292k) "suggests that last

month's slowdown in job gains may prove temporary and poses upside risk to our

official forecast."

- RBS NatWest economists estimate a gain of 175k jobs (165k private), unemploy

rate steady at 3.8%. RBS adds they expect "hourly earnings to have increased by

0.3% and for the workweek to have rebounded. While these results would mark

another solid performance, the data are unlikely to end the debate on the

direction of the next Fed move."