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EMERGING MARKETS: Global news

EMERGING MARKETS
  • US (MNI) – Non-farm payrolls growth is expected to see a partial bounce in August to 165k after a particularly soft 114k, with continued questions over the extent to which the latter was driven by one-off factors. The scope for revisions to the prior two months is high, exacerbated by low response rates. Expect particular sensitivity to the unemployment rate, calculated from the separate household survey.
  • US – Chicago Fed President Austan Goolsbee sees mounting warning signs about the outlook for the labour market. The longer-run trend of labour-market and inflation data justify the Fed easing interest-rate policy soon, and then steadily over the next year, Goolsbee said Thursday. "It is pretty clear that the path is not just rate cuts soon," he said, but multiple cuts over the next 12 months, as the Fed has projected in its most recent dot plot.
  • US / ISRAEL – The US, Qatar and Egypt will present a new cease-fire proposal to Israel and Hamas in the coming days, Secretary of State Antony Blinken said Thursday. He said that 90% of the cease-fire deal had been agreed upon and that the remaining issues were Israeli control of the Philadelphi corridor, which runs along the Gaza-Egypt border, and how Israeli hostages and Palestinian prisoners are exchanged.
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  • US (MNI) – Non-farm payrolls growth is expected to see a partial bounce in August to 165k after a particularly soft 114k, with continued questions over the extent to which the latter was driven by one-off factors. The scope for revisions to the prior two months is high, exacerbated by low response rates. Expect particular sensitivity to the unemployment rate, calculated from the separate household survey.
  • US – Chicago Fed President Austan Goolsbee sees mounting warning signs about the outlook for the labour market. The longer-run trend of labour-market and inflation data justify the Fed easing interest-rate policy soon, and then steadily over the next year, Goolsbee said Thursday. "It is pretty clear that the path is not just rate cuts soon," he said, but multiple cuts over the next 12 months, as the Fed has projected in its most recent dot plot.
  • US / ISRAEL – The US, Qatar and Egypt will present a new cease-fire proposal to Israel and Hamas in the coming days, Secretary of State Antony Blinken said Thursday. He said that 90% of the cease-fire deal had been agreed upon and that the remaining issues were Israeli control of the Philadelphi corridor, which runs along the Gaza-Egypt border, and how Israeli hostages and Palestinian prisoners are exchanged.