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Breaking: US JOLTS Job Openings increased to 7.594M in May
FXStreet • • business
Key Points:
- US job openings reached 7.594 million in May, surpassing analysts' expectations of 7.3 million and slightly above April's revised figure of 7.585 million, indicating a robust labor market.
- Total separations remained steady at 5.1 million with quits unchanged at 3.1 million, while layoffs and discharges held at 1.7 million, showing little movement across industries.
- The strong labor market data supports expectations of Federal Reserve interest rate hikes amid persistent inflation and geopolitical uncertainties, contributing to a rebound in the US Dollar Index near 101.50.
- Futures markets now price a 30% chance of a rate hike in July and over 60% in September, reflecting increased investor confidence in further monetary tightening based on recent employment figures.
- The EUR/USD currency pair remains under pressure near 13-month lows due to Eurozone economic challenges and geopolitical tensions, with key support at 1.1325 and resistance levels identified between 1.1500 and 1.1640.
