JOLTS reported lower, US Dollar Weakened

　　

The U.S. stocks market rose for a second straight session on Tuesday as investors hoped that the Federal Reserve may ease its aggressive tightening stance in response to employment data. The S&P 500 climbed 112 points (+2.90%) to 3,790, while the Nasdaq 100 surged 352 points (+2.93%) to 11,582 and the Dow Jones Industrial Average surged 825 points (+2.62%) to 30,316.

In August, the U.S. Department of Labor’s Job Openings and Labor Turnover Survey (JOLTS) reported 10,053 million job openings, a 14-month low and significantly below the projected 11,1 million. In August, factory orders remained unchanged from the previous month, despite a projected 0.3% decline. The yield on the 10-year Treasury bond decreased by 0.4 basis points to 3.635%.

Twitter (TWTR), the social networking platform, surged 22.24% to $52 as Elon Musk plans to proceed with his acquisition of Twitter for the original proposed share price of $54.20. Meanwhile, Tesla (TSLA), the electric-vehicle maker, rose 2.9% to $249.44.

Main Pairs Movement

The Dollar Index dropped 1.27 per cent during yesterday’s session. Tuesday saw the dollar decline versus most major currencies as the yield on the benchmark 10-year U.S. Treasury declined.

During yesterday’s trading, the EURUSD appreciated 1.67 per cent and closed at a new weekly high. As the Euro continues to capitalise on the weaker Dollar, parity is nearly attained.

Cable increased 1.33 per cent during yesterday’s session. The British Pound has extended its winning streak to five days.

XAUUSD finished higher at approximately $1724 per ounce as the yield on the benchmark 10-year U.S. Treasury note decreased and weakened the Dollar.

Economic Data

Currency	Data	Time (GMT + 8)	Forecast
NZD	Official Cash Rate	09:00	3.50%
NZD	RBNZ Rate Statement	09:00
USD	ADP Non-Farm Employment Change	20:15	200K
USD	ISM Services PMI	22:00	56.0