Credit Agricole CIB Research previews the US August jobs report due on Friday.

"The jobs report was much softer than expected in July, though we expect some rebound in August. Specifically, we tentatively look for NFP to rise by +65k following the -23k decline in July, not as strong as in the spring but still bouncing back somewhat," CACIB notes.

"We expect the unemployment rate to edge back up to 4.2% from 4.1% last month, as we see the possibility for some payback in participation after the dip over the past two months, which could add some upward pressure. For average hourly earnings, we look for a firmer MoM print of 0.3%, though the YoY would still edge down to 3.1% from 3.2%," CACIB adds.