Welcome to March trading. If you haven’t read my March seasonals package yet, check it out.

As the calendar turns over, the yen is giving back all of Thursday’s gain while the rest of the FX market is still and oil is on a bit of a run.

There is no early US data today but we have plenty to come on the economic calendar, including more Fedspeak.

The data focus of the day is US manufacturing with the S&P Global PMI at 9:45 am ET followed by the ISM manufacturing report 15 minutes later. At the same time, we also get US Jan construction spending and the UMich final Feb consumer sentiment report.

For Canada, the S&P Global manufacturing report is due at 9:30 am ET.

In terms of Fedspeak, we get:

• 10:15 am ET Waller & Logan
• 12:15 am ET Bostic
• 1:30 pm ET Daly
• 3:30 pm ET Kugler