Friday’s US jobs report is forecast to show employers boosted their payrolls by nearly 170,000 in August, while the unemployment rate held at a historically low 3.5%. The average increase in job growth over the past three months would be the smallest since the start of 2021.
Elsewhere, euro-area inflation readings for August will be in focus, while China’s PMI data are expected to reinforce that the economy is going from bad to worse. Trade figures are also expected from South Korea, Thailand and Vietnam in a further pulse check on the state of global commerce. Underlying inflation in the euro area probably only dipped a touch, which might strengthen arguments for one final rate hike.
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