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JOLTS and wholesale sales due up later

US economic calendar features second-tier data today at 10 am ET

The Federal Reserve likes the JOLTS report as a way to confirm the trend in non-farm payrolls. The main problem with it is the lag. Today's report is for March when we've already seen the April non-farm payrolls data.

The consensus estimate in in the JOLTS report is 5450K job openings, a slight improvement from the 5445K Feb reading. .

I don't see a chance of these numbers moving markets. Perhaps a soft reading would underscore some of the concerns about the economy after the weak non-farm payrolls report on Friday but, even then, it's hard to believe the dollar will fall.

The other report due at the same time is wholesale inventories, which are expected to show a 0.1% rise on a 0.5% climb in sales. The inventory data is an important input for GDP but this data point is rarely a market mover.

Overall, the economic calendar is fairly quiet. Still, USD/JPY has drifted higher for the second day today on intervention jitters.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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