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

"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."