Soft JOLTS, Firmer ISM Services Outlook: TD Securities on Dollar
TD Securities strategists note that US job openings fell more than expected in June, although they remain elevated compared to private indicators. They also project the ISM Services Index to rise to 55.0 in July, exceeding June's reading of 54.0.
TD Securities strategists highlighted that US JOLTS job openings declined more than anticipated in June, though they remain elevated compared to private data sources.
Despite this soft patch in the labor market, the outlook for the services sector appears firmer. The bank projects the ISM Services Index to climb to 55.0 in July, up from 54.0 in June.
This combination of slightly weaker employment data but improving services sentiment offers a mixed but potentially supportive backdrop for the US dollar in the near term.
Source: FXStreet Forex News