The number of job openings in the United States was little changed in November, according to the latest data released on Tuesday. The Bureau of Labor Statistics reported monthly job openings dropped to 5.52 million during the reported month, missing analysts' expectations of 5.59 million. Meanwhile, October's level was revised down to 5.45 million from 5.53 million. The JOLTS report is closely followed by the Federal Reserve Chair Janet Yellen. Jobs in local government, excluding education, climbed to more than 32,000, whereas private job openings overshoot government hires by 48,000. Over the month, hires and separations were also little changed at 5.2 million and 5.0 million, respectively, while the layoffs and discharges rate remained unchanged at 1.1% during the eleventh month of the year.
Other data released Tuesday showed US wholesale inventories rose to a seasonally adjusted annual rate of 1.0% in November from 0.9% in the previous month. This marked the largest increase since November 2014.
Upcoming fundamental releases: Trump speaks
Fluctuations in the financial markets on Wednesday will be caused by US President-Elect Donald Trump, who has scheduled a press conference at Trump Tower for 16:00 GMT. In addition, the strength of the US Dollar and subsequently the markets might be shaken by the speech of FOMC member Dudley at 18:20 GMT.
EUR/USD remains near 1.0550
Daily Chart: On Wednesday morning the common European currency remained almost flat against the US Dollar near the 1.0550 mark. During Tuesday's trading session the rate once more tried to move higher and failed after encountering the resistance line of a medium term ascending channel. Due to that the outlook for the currency exchange pair still remains bearish. The pair is most likely to move lower and once more approach the support cluster near the 1.0520 mark, which is made up of 2015 December and April low levels together with the 20-day SMA.SWFX traders become neutral
SWFX traders have become neutral, regarding the pair. Meanwhile, 59% of trader set up orders were to sell the Euro.
Spreads (avg,pip) / Trading volume / Volatility
Average forecast says EUR/USD will trade around 1.04 in April
Traders, who were questioned on their longer-term views on EUR/USD between December 11 and January 11 expect, on average, the currency pair to trade around 1.04 by middle of April. In addition, 39% of participants believe the exchange rate will be generally above 1.06 in ninety days and 12% see it above 1.12. Alongside, 42% (+1%) of those surveyed reckon the pair will trade below 1.02 in three months.