In September, job growth in the US amounted to 336K, which was significantly more than expected. The continued strong employment growth – which has been revised significantly upward for the previous months – does not suggest that the labor market is moving into a better balance of supply and demand. This raises questions as to whether the easing in wages is permanent. Pressure is mounting on the Fed to hike rates once again.

No further employment report is due before the next FOMC meeting on October 31/November 1, which could make it clearer whether job growth has re-accelerated, against the Fed's wishes. Thus, the inflation figures scheduled for next week could be the deciding factor as to whether the Fed hikes or prefers to wait for more data.