IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
US data continue to show progress and the downward pressure on the unemployment rate is set to continue. Weak labour productivity and a low participation rate should ensure lower unemployment, even with a temporary slowdown in GDP growth.
The job growth is expected at 205,000 in August, which is in line with consensus. Overall, labour market indicators released lately have been solid, with jobless claims data trending sideways at a low level and the Conference Board's labour market differential at its most favourable level since January 2008.
"We estimate that the unemployment rate declined from 5.3% to 5.2% and is thereby approaching the Fed's NAIRU of 5%. We expect unemployment to undershoot the FOMC's projection for this year and next. This is a key reason we think the Fed will initiate its tightening cycle in December this year and proceed at a faster pace than the two hikes currently factored in by the market", says Dankske Bank.
