On Monday, the economic calendar is quite uneventful so investors will keep an eye to the development of trends that worried investors this week – rally in USD and sell-off in long-term government bonds. Powell speech and strong February NFP report are likely to provide more fuel to the rally in US long-term interest rates and USD throughout the coming week.

On Tuesday and Wednesday, investors will be interested in EIA reports on oil inventories and short-term forecast in the oil market. The focus is on recovery of US shale production. OPEC said its word and now further strengthening of oil prices will depend on resistance from the US oil supply.

On Thursday, the ECB will hold a meeting on monetary policy. The focus is on possible tweaks in the size of asset purchases under the PEPP program (aka pandemic QE), as well as the central bank’s opinion about debt market developments. As in the US, long-term rates in the EU are on the rise. Will the ECB like it? We'll find out on Thursday.

On Friday, the markets will focus on British data - GDP, industrial production, as well as statistics on the Canadian labor market.

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