Chris Igo, an analyst at AXA Investment Management, pointed out that despite inflation being above the target level, the US labor market shows signs of weakness, which is likely to prompt the Federal Reserve to cut interest rates further. "The delayed release of the US non-farm payroll data for October and November confirmed what has been evident throughout this year — employment growth has stalled," Igo said. Investors need to closely monitor US labor market data for more signs of weakness.