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

"We expect NFP to rebound, projecting an increase of +65k following the decline of -23k in July. This would represent a clear improvement from last month, though it would still be below levels seen in the spring.  Despite an expected rebound in NFP, we look for the unemployment rate to edge back up to 4.2% from 4.1%," CACIB notes

"We also look for average hourly earnings to rise 0.3% MoM, up from 0.1% MoM in July, though this would still see the YoY rate ticking down to 3.1% from 3.2%. This would be the lowest level since 2021, reinforcing the Fed’s view that the labour market is not a major source of inflation pressure at the moment," CACIB adds