U.S. data

• The number of open vacancies in the labor market JOLTS (Jan), fact 7,581M, forecast 7,310M.
• The consumer expectations index from the University of Michigan (Mar), fact 89.2, forecast 86.0.
• The consumer sentiment index from the University of Michigan (Mar), fact 97.8, forecast 95.3.

The number of open vacancies in the US labor market continues to be near historic highs, indicating an increase in labor demand, despite a weak employment report published earlier.

Fig. 1. Chart of the number of open vacancies in the US labor market

The data on open vacancies partially returned optimism on the American dollar after weak data on industrial production in the USA. But general downward dynamic of the American dollar and the growth of optimism in the market continues to put pressure on the US dollar, especially against emerging currencies.

The US dollar index returned under significant support of 96.70, indicating a resumption of the decline. The support is the marks: 96.50 and 96.40.

Fig. 2. The US dollar index chart. The current price is 96.60 (10-year government bonds yield is the blue line)

Read also: “Trade in currency baskets”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. The US Dollar Index (DXY) as an auxiliary indicator for trading in safe haven currencies
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3. Emerging markets and their prospects

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