A great positive surprise in the US: 4.4455 job openings were recorded in April, the first full month after the harsh winter. US JOLTS job opening for the month of April were expected to show yet another month of over 4 million job opening: 4.04 million after 4.01 initially reported in April, now revised up to 4.166 million. So it’s good news all around.
Before the publication, the dollar was stronger against the euro and the pound and steady against the yen. The dollar is a bit stronger after the publication.
While the Job Openings and Labor Turnover survey is a lagging indicator (looks at the month before the last one rather than the very last one reviewed by the NFP), the Fed closely watches this figure.
US wholesale inventories, released at the same time, were predicted to rise by 0.6% after +1.1% last month. They surprised as well with 1.1%.
The big event of the day was the fall of EUR/USD below support. The negative deposit rate comes into effect tomorrow.
