The size of the moves in FX and bonds following the JOLTS job openings data took many in the market by surprise and that means everyone will be on gua
The size of the moves in FX and bonds following the JOLTS job openings data took many in the market by surprise and that means everyone will be on guard for tomorrow’s data slate.
It’s an important one with ADP employment and the ISM services report as the chief data points. The latter is a particularly-good forward looking indicator and is forecast to dip to 54.4 from 55.1.
ISM services
The services data earlier this year sent a misleading signal about looming economic weakness that solidified many views that a recession was underway. That turned out to be a miss as the index quickly reversed.
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