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Job openings exceed expectations, join other strong US figures

The  Job Openings and Labor Turnover Summary figure for June rose to 3.94 million, at the best level since 2009. It was expected to rise from 3.83 (before revisions, now revised up to 3.907) to 3.91 million. A break above 4 million would certainly be encouraging. While this is a late figure, it is jobs-related (critical for tapering) and also eyed by Ben Bernanke, making it a market mover.

EUR/USD traded just below 1.33 after yet another false break above this all-important number. USD/JPY was around 98.11 and GBP/USD remains capped below 1.54, despite another blockbuster figure. The dollar is marginally stronger after the publication, but not getting overly excited and not pricing in tapering. Not yet.

The  IBD/TIPP Economic Optimism index was expected to edge up from 47.1 to 47.9 points but it disappointed with a drop to 45.1 points. This is a minor figure in comparison to the trade balance.

Earlier, the US trade balance came out better than expected, with the lowest deficit since October 2009 – a 44 month record. The deficit of 34.2 billion was buoyed by strong exports and will push GDP higher in the next revisions.

More:  Weaker jobs number is not end of USD rally


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.