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Friday, September 4

4th Sep - US job report brings no certainty

Previously on MoreLiver’s:

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Juncker prepares new push for refugee quotasOpen Europe

The ECB exhibits maximum flexibilityPictet  

This is the worst argument for the Fed to raise rates – WaPo
6 Reasons Fed May Not Hike Rate In Sep – Econmatters

August Jobs Report: Everything You Need to Know – WSJ
The August Jobs Report in 10 Charts – WSJ
August Jobs Report – The Numbers – WSJ
August Payrolls Miss, Hourly Earnings Rise More Than Expected – ZH
"Good-Enough" Jobs Data Sparks Stock Slump As Sep Hike Odds Jump – ZH
+173K jobs; unemployment rate fell to 5.1% – WaPo
173,000 Jobs, 5.1% Unemployment Rate – Bill McBride
US labour market still solid – Danske Bank
Economists React: ‘September Hike a Coin Flip’ – WSJ
Strong jobs report doesn’t ensure September lift-off – Nordea
Unemployment dropped; September hike uncertain – Handelsbanken
Payrolls Rose 173,000, Jobless Rate Drops to 5.1% - BB
Labor market shows muscle despite slower job growth – Reuters
August Jobs Came in Low—By 1/33 of a Percentage Point – WSJ

Morning MoneyBeat AsiaWSJ
U.S. Stock Rally Stalls Out, Again

Morning MoneyBeat EuropeWSJ
Stocks Fall Amid Wait for Clues from Jobs Report

Morning MoneyBeat USWSJ
Jobs Key, But Fed Has More To Weigh for Liftoff

Danske DailyDanske Bank

Euro rates updateNordea

Risk-off ahead of NFP, downbeat G20 draft, Draghi boosts QE2 speculation * Riksbank risks a krona tantrum * Euro yields will benefit from ECB dovishness * Non-farm payrolls to disappoint

Morning MarketsTF
ECB president Mario Draghi sought to calm markets Thursday and while his dovish approach on QE steadied nerves, Asian equities took another turn to the downside. EURUSD waits in trepidation for the NFP print as

Daily FX CommentMarc Chandler
Equities Slump, Focus Shifts from ECB to US Jobs

Daily ShotTF
Yesterday ECB chief Mario Draghi was unexpectedly dovish and downgraded the Eurozone's economic forecast, opening for increasing the QE. In the meanwhile the area's economy is actually continuing to improve (but less than the ECB would like to see).

Daily Press SummaryOpen Europe
France and Germany back binding refugee quotas * ECB signals readiness to expand stimulus

Brussels Playbook Politico
Migration movement — Orbán cowboy

Futures Slide More Than 1%, At Day Lows Ahead Of "Rate Hike Make Or Break" Payrolls


FX UpdateTF
The very weak risk sentiment overnight looks ominous, as does the action in JPY crosses, particularly as it comes after a very dovish ECB tried to shore up market confidence yesterday. Let’s see if the US employment report turns the tide or worsens the mood further.

From the FloorTF
Just when you thought it was safe to go back in the water... risk-off is back and the yen, again, is its big beneficiary. Today's US nonfarm payrolls print, however, is casting a long shadow over this morning's skittish markets and a significant departure from consensus in either direction could result in what Americans call "a whole new ball game".

Aamukatsaus Nordea
Riksbank piti korot ennallaan * EKP otti ensiaskeleen kohti lisäelvytystä * Euro heikkeni likimain kaikkia valuuttoja vastaan * Draghin puheet painoivat eurokorkoja

Vihriälä: EMU kaipaa vahvempaa markkinaperiaatetta, ei fiskaaliunioniaEVA

EVA-raportti: Liittovaltio on mahdoton - velkamekanismista euron pelastajaVerkkouutiset
Vesa Vihriälän kirjoittamassa raportissa arvioidaan, että euro ei edellytä pelastuakseen liittovaltion rakenteita.
Henri Myllyniemi: Euroopan kaksi kolossaalista virhettäUS