Data Watch - April Fools' Day

CANADA

US
- ADP hit new low of -742k in March, down from revised level of -706k in February; Challenger job cuts also surged; Friday's non-farm payrolls report is expected to reveal job losses of about 658k in March, though some economists, including David Rosenberg and Joe LaVorgna, are pencilling in a forecast of -750k
- ISM Manufacturing, as expected, stayed steady at about 36
- construction spending and pending home sales also due today, as well as vehicle sales for March
- Fed has bought $17.5B of Treasuries so far in its $300B QE program; the fourth round of buying will be tomorrow, when it purchases notes maturing from 2013 through 2016

INTERNATIONAL
Japan
- Tankan Large Manufacturers Index fell in Q1 to a new record low of -58 and the outlook index to -51; the Non-Manufacturing Index fell to -31, still above the lows in 1998 and 1994
- vehicle sales are down 31.5% YoY

Europe
- German retail sales down 5.3% YoY
- Italian, French, German and Eurozone manufacturing PMIs all stayed relatively steady in March relative to February levels in the low to mid 30s; the UK PMI rebounded to 39.1
- Eurozone unemployment rate rose to 8.5% (it peaked at 9.1% in 2005 and got to as low as 7.2% a year ago)