Decline in payrolls growth confirms labour market loosening, cements Fed pause – SocGen

Eren Sengezer FXStreet

"Dollar consolidates gains, bonds maintain losses after break-out in oil prices overshadowed the rise in US unemployment rate to 3.8% in August," note analysts at Société Générale.

US markets are closed today

"Decline in payrolls growth confirms labour market loosening, cements Fed pause. US markets are closed today."

"Week ahead: ECB’s Lagarde speaks today, ECB inflation expectations tomorrow and US ISM services on Wednesday. RBA and BoC forecast to keep rates on hold Tuesday/Wednesday. SG house view: Chile CB to cut 100bp tomorrow and Poland to launch easing cycle on Wednesday with a 25bp cut to 6.50%. CPI from Mexico, Chile, Hungary also on agenda."

"China: existing home sales in Beijing jumped 100% to 1,200 units on Saturday from a week before according to Security Journal following lower minimum down payment and easing mortgage restrictions."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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