US: Big week in terms of data - ING

Analysts at ING suggest that it’s going to be a big week for US data, which culminates in the release of the Sep jobs report (Fri); ING economists are looking for an above-consensus +110k payrolls print - with the fallout from hurricanes Harvey and Irma having a more muted impact.

Key Quotes

“On the wage growth front, we're expecting +0.3% MoM and 2.6% YoY - although this may be in the dollar's price (odds of a Dec hike around 60-70%). It is a move higher in trend wage growth - and signs of 3.0% YoY growth - that matters for the duration of the Fed tightening cycle and would prompt a re-pricing in inflation markets. Among Fed speakers, watch for board member Jerome Powell (Tue & Thu); he's the most likely internal candidate to replace Chair Yellen, though US media also reporting that Trump has met with the likes of former Fed official Kevin Warsh about the job.”