What you need to know before markets open: The US President keeps on pushing the tariffs introduction and dismissed the main economic advisor Gary Cohn on top of it indicating that the times of global free market policies will no longer have an advocate in Trump’s inner circle. The ADP employment report rose above expectations in February indicating that Friday’s NFP report might come strong as well in support of the US Dollar. The Bank of Canada Governor Stephen Poloz and his Deputy Governor Carolyn Wilkins are set to speak at the press conference after the Monetary Policy Committee decided to hold rates steady. The threat of NAFTA negotiations and trade tariffs as of late are expected to scare the central bankers enough to opt for the wait-and-see strategy. For more detail on my Preview here. Wednesday’s market moving events New York Federal Reserve Bank President William Dudley is set to give a presentation with New York Fed economists on the unfolding situation in Puerto Rico at 13:20 GMT. The US trade balance is expected to reach a deficit of $55.1 billion in January. The US non-farm productivity is forecast to fall 0.1% Q/Q while unit labor cost is seen rising 2.1% Q/Q in Q4 2017. Canada’s international trade is expected to reach a deficit of C$-2.45 billion in January. The Bank of Canada is seen holding rates steady at 1.25% in March. For details read my Preview here. Japan’s GDP is expected to rise annualized rate of 0.9% Q/Q in the final quarter of 2017. Major market movers The US Dollar is little changed but lower across the board as Trump pushes on anti-trade policies and fires the chief economic advisor. USDCAD is set to be little changed after the Bank of Canada holds rates steady. Earlier in Asia/Europe Australian GDP is expected rose 0.4% Q/Q and 2.4% y/y in Q4 2017, missing the market expectations. French trade balance reached a deficit of €-5.6 billion in January. The Eurozone GDP in line with expectations rose 0.6% Q/Q and 2.7% y/y in Q4 2017. The ADP employment report rose to 235K new jobs added in February, beating the market expectations.