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Weekly Economic Perspectives

Fed Cuts Delayed by Robust Labor Market Data

Robust employment report takes July Fed cut off the table. Bank of Canada and European Central Bank deliver their first rate cuts. UK private sector expanded. Japan’s wages improve. Australia’s GDP growth declines to a 32-year low.

5 min read
Chief Economist
Investment Strategist

US Payroll Revisions Have Suddenly, Mysteriously Shrunk 

Spotlight on Next Week

  • On-hold Fed to signal fewer cuts this year. 
  • Canadian manufacturing sales to rebound. 
  • UK labor market shows further easing. 
  • The BoJ is ready to reduce JGB purchases. 
  • Aussie full-time employment growth to remain muted.

More Weekly Market Updates