US JOLTs Beats With 6.17 Million – More Gains For The Greenback?
For the second month in a row, the number of job openings beat expectations and stands above 6 million annualized. At 6.17 million, this is a small rise in comparison to last month’s 6.12 million (revised down from 6.16 million). Expectations stood at 5.96 million.
The US dollar enjoyed a recovery this week, based on 3 other factors. It now has the support of the economic data, but bigger tests await it: the inflation and retail sales report towards the end of the week.
Can the greenback continue rising? The reaction tells a slightly different story. USD/JPY is stuck at 110 and EUR/USD remains stable. GBP/USD consolidates its gains. Has the US dollar recovery reached the limits of the recovery?
This jobs report is watched closely by the Federal Reserve, which sees it as a broad measure of the US economy. The previous publication sent the dollar higher.
Here is how the recent moves look on the dollar/yen chart. The easing of North Korean tensions certainly helped the relief rally.
(Click on image to enlarge)
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