Coming off the August JOLTs report which showed a record decline of 1 million job openings, the hope was September would at least keep that trend in play.
However the prior month was revised higher and the current month saw an increase off of the last month levels. The demand for jobs remains greater than the supply and that could continue to keep inflation expectations high - especially in the service sector.
The US stocks have moved lower. The Dow industrial average is down 50 points or -0.15%. The S&P is down -2.7 points at -0.07%. The NASDAQ is down -12.41 points or -0.11%
Yields have come off there lowest levels and moved higher.
The dollar has moved higher as well.
EURUSD: The EURUSD has move back below its 200 hour moving average at 0.99153. It currently trades at 0.9898. The 38.2% retracement of the move up from the September 28 low comes in at 0.98799. The low yesterday did break that level on its way to a intraday low of 0.98722.. Today's Asian session low came in at 0.9876. Traders will be watching the 200 hour moving average as resistance now as the bias shifts ahead of the FOMC decision and press conference from chair Powell.
USDJPY: The USDJPY is backup testing its 200 hour moving average 148.137. A break above would have traders targeting the 50% retracement of the range since the high on October 21. That midpoint level comes in at 148.518.
GBPUSD: The data and subsequent USD buying has made the sellers in the GBPUSD against the 100 hour MA look good. The pair is down testing the high of the swing area between 1.14595 and 1.1495. The low price reached 1.14853.
