Key Insights
- JOLTs Job Openings decreased from 9.582 million in June to 8.827 million in July.
- CB Consumer Confidence declined from 117 in July to 106.1 in August.
- U.S. Dollar Index tested session lows as traders bet on a less hawkish Fed.
On August 29, U.S. reported that JOLTs Job Openings declined from 9.582 million in June to 8.827 million in July, compared to analyst consensus of 9.465 million. The report missed analyst estimates by a wide margin, highlighting the negative impact of rising interest rates.
The situation in the labor market is one of the key catalysts for the Fed. The material decline in JOLTs Job Openings shows that the labor market has started to cool down.
Today, traders also had a chance to take a look at the CB Consumer Confidence…
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