US Job Openings conflict with Consumer Confidence

Source: Dukascopy Bank SA


At 14:00 GMT, two data sets were released that conflict with one another. The US JOLTS Job Openings disappointed, but the CB Consumer Confidence surprised the markets. However, it appears that JOLTS rule the market, as the US Dollar dropped on the announcement.

Job Openings and Labor Turnover Survey (JOLTS) revealed that there are 7.44 million jobs available in the USA, instead of the expected 7.98 million. Moreover, the prior report was revised from 8.04 million to 7.86 million. In general, there is a lot less economic activity in the USA than previously thought.

In the meantime, the Consumer Board Consumer Confidence survey of consumers was expected to show a slightly pessimistic reading of 99.5. Actual published results show positive consumers with 108.7.

Consumers might be positive, but there are a lot less jobs, which is a more factual indicator of the health of the economy.
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