Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD: US JOLTS Job Openings
The EUR/USD exchange rate continued to increase on the US JOLTS report on Monday. The release caused 20% volatility in the pair, where the Euro lost 3 base points against the US Dollar, but kept recovering in an attempt to enter the 1.1600 area again. The bullish sentiment was fuelled additionally by the Fed’s Yellen speech in the evening.
The JOLTS report showed that demand for workers in the US remained solid, with 6.1M job openings registered in September. The job opening rate, as well as pace of hiring were unchanged at 4% and 3.6%, respectively. Despite the recent hurricanes’ fallout, levels were steady, indicating the resilient labour market. However, nearly 1.7M people were laid off or fired in September, compared with 1.5M a year ago.
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