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JOLTS Jobs Openings Out, GBP/USD Resistance Level Up Next
Welcome to Tuesday’s trade! It’s been a modest pre-Fed session; the key movers are silver, natural gas, and the Japanese yen. Holiday season trading is clearly upon us, with participation and traded volumes lagging norms across most asset classes.
During the early US session, JOLTS Job Openings was released to the public. The JOLTS report is done by the US Bureau of Labor Statistics (BLS) and is designed to help measure job vacancies. Today’s figures came in at 7.658 million, above the 7.2 million projected and 7.227 million previously released. A higher-than-expected JOLTS number is perceived as bullish for the USD as it signals economic expansion.
Although this morning’s JOLTS report has made headlines in the financial media, it’s not acting as a primary market mover. Traders are waiting for three events to wrap 2025: tomorrow’s Fed Announcements, and next week’s US Non-Farm Payrolls (NFP) and Consumer Price Index (CPI) disclosures. Buckle up — the markets are likely to be in a very different place next Friday!
USD volatility is highly likely over the next 36 hours. Here’s a macro resistance level worth watching in the GBP/USD:
Monthly 62% Fibonacci Retracement, 1.3452
Check out our Key Levels for more information on this Trade Idea.
That’s all for now; trade well, and we’ll see you at today’s US session livestream! (1:00 PM EST, Switch Markets YouTube channel: https://www.youtube.com/@switchmarkets/streams)
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