Key Insights
- JOLTs Job Openings decreased from 9.35 million to 8.73 million, missing analyst expectations.
- ISM Services PMI increased from 51.8 in October to 52.7 in November.
- U.S. Dollar Index pulled back from session highs as traders reacted to the report.
On December 5, U.S. released JOLTs Job Openings report for October. The report indicated that JOLTs Job Openings declined from 9.35 million (revised from 9.55 million) to 8.73 million. Analysts expected that JOLTs Job Openings would decrease to 9.3 million, so the report missed analyst consensus.
The job market data is extremely important for the Fed policy outlook. In case the number of job openings continues to move lower, the central bank may cut the federal funds rate earlier than previously expected.
Today,…
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