US Dollar: JOLTS openings seen retreating – TD Securities
TD Securities strategists expect US JOLTS job openings to fall to 7.0 million in June from 7.594 million in May, below the 7.504 million consensus forecast, as the recent increase appears difficult to sustain. They expect the data to move closer to softer private-sector hiring indicators.
TD Securities strategists anticipate a decline in US JOLTS job openings to 7.0 million in June, down from 7.594 million in May, falling short of the 7.504 million consensus forecast. This anticipated decrease may be attributed to the recent surge in openings being difficult to maintain, potentially aligning more with softer private-sector hiring signals.
In contrast, the July ISM Manufacturing reading rose to 55.6, its highest level since mid-2022, indicating stronger-than-expected manufacturing activity. The strategists believe that JOLTS will trend closer to indicators such as Indeed, which reveals a more subdued hiring trend.
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