BREAKING: USD jumps after surge in JOLTS data

This week hosts a marathon of releases from the US labor market. While the NFP report for September, scheduled for Friday, 1:30 pm BST, is a key report, others are also closely watched by market participants. Traders were offered a JOLTS report on job openings for August today at 3:0 pm BST and the release was closely watched given a massive drop reported for July.

Market was expecting a report for August to show a small drop from 8.827 million in July to 8.815 million in August. However, the actual report showed a massive jump to 9.610 million! Such massive swings in July and August create impression that there may have been some issue with July data and today's big jump is a kind of a revision. Nevertheless, markets are viewing the data as hawkish with USD surging and stocks moving lower.

EURUSD slumped following a big jump in job openings in August. Source: xStation5