Onto Services ISM & Beyond

The US spending sequestration shall go into effect and is expected to hit GDP mostly in Q2 and Q3. Fed Vice Chairwoman Janet Yellen said the FOMC is committed to its 6.5% unemployment threshold and that monetary easing will remain in place well into recovery. Wednesday's ADP figures and Friday's NFP & Unemp data will likely send the message that the US economy is neither too weak to trigger disaster nor too strong to discontinue Fed easing. This is a super central bank week as the RBA meets tonight, followed by the BoC on Tuesday, and ECB/BoE on Thursday. CORECTION US February US services ISM is due TUESDAY & NOT today as we stated earlier. ISM is exp at 55 from 55.2. We posted an additional Premium note in the latest Premium Insights as the 2 EURUSD longs remain in progress.