Deterioration in US labor market may be viewed as positive signal
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After markets spent Monday focused on the scandal surrounding L. Cook, the Fed's chief economist, and responded to the fading theme of trade wars, attention is now turning to the release of critical US labor market data—numbers that have the potential to fully reshape the conversation about the need for a Fed rate cut. Let us start with Wednesday's JOLTS job openings report for July. The data revealed a significant decline versus both consensus (7.181 million versus 7.380 million forecast) and
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