South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
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.
