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.
Gold struggles near 1,190 level
Daily chart: The yellow metal continued to surge during Wednesday's trading session, marking the third consecutive session of gains. However, the bullion is facing a strong resistance level, which is keeping it down. The resistance is represented by the weekly R1 at 1,189.45, and the level is set to become even stronger, as the 55-day SMA is moving lower and will join the weekly R1 tomorrow. In addition, at 1,195.14 is a trend line intersection of the medium and long term patterns. These factors combined indicate at an end of the bullion's surge. A reversal of the trend is about to occur.SWFX trader sentiment bullish
Spreads (avg,pip) / Trading volume / Volatility
Market participants foresee the price of Gold being around 1,200 in April
Traders who were asked regarding their longer-term views on gold between December 11 and January 11 expect, on average, to see the metal around 1,200 in early April. Generally, 37% of participants believe the price will be above 1,250 in ninety days. Alongside, 31% (+3%) of those surveyed reckon the currencies will trade in the range between 1,000 and 1,200 over the next three months.