US non-farm payrolls rose 273k in February, well above expectation of 178k. Unemployment rate dropped to 3.5%, down from 3.6%, as it continues to gyrate between 3.5-3.6% for the past six months. Participation rate remained unchanged at 63.4%. Average hourly earnings rose 0.3% mom, matched expectations. Also from the US, trade deficit narrowed to USD -45.3B in January versus expectation of USD -48.8B.


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