Forexlive Americas FX news wrap: US dollar dumps as job openings fall


  • Gold up $37 to $2021
  • WTI crude oil up 2-cents to $80.45
  • US 10-yaer yields down 8.4 bps to 3.35%
  • S&P 500 down 24 points to 4100
  • GBP leads, AUD lags

The US dollar was soft in Asia and Europe but was staging something of a recovery in early North American trade until a soft JOLTS job opening report landed. That triggered an outsized move to the lows of the day for USD along with a corresponding jump in gold above $2000 and crypto.

USD/JPY fell to 131.66 from 132.60 in a full-cent drop. It continued to slide for an hour after the release but then tracked straight sideways as the day wound down.

EUR/USD rose to 1.0968 from 1.0900 on the data then gave a bit back before recouping it again late.

Cable was particularly strong all day but didn’t get a particularly large bump from the JOLTS number. It finishes very close to 1.2500 in a nearly 100-pip rally that broke the recent range top to the best levels since June 2022.

USD/CAD was more of a spike lower then reversal as it dropped to 1.3405 from 1.3430 then quickly rebounded. Oil fell on the JOLTS data and stocks stumbled on fears of a slowing economy and that hurt all commodity currencies. The worry around JOLTS may not be just the decline but the speed of the decline pointing, potentially, to a rapid slowdown.

AUD/USD was soft after the RBA move to the sidelines but finished North American trading flat.

Articles You May Like

Gold rebounds as US dollar, yields slip with eyes on Fed guidance
Fed decisions to set short-term direction for gold prices
Gold rallies finishing with weekly gains, ahead of US NFP data
Yen Maintain Gains But Faces Momentum Hurdle, Dollar Indifferent to Weak Durable Goods

Leave a Reply

Your email address will not be published. Required fields are marked *