Opinion – Wednesday 9 August 2017

One of the big news from a relatively volatile trading session has come from the JOLTS report showing the gap between job openings and actual hiring’s in the US is now the widest ever. The Fed would argue that this is a signal of a tightening labour market and eventually higher wages pressures should help bridge or narrow this gap. Reaction to the data pushed the US Dollar and US Treasury Yields higher. But then late in the New York session President Trump warned that threats from North Korea “will be met with fire and fury like the world has never seen”. US Treasury yields and US equities moved lower on the news, but reaction in currency markets has been fairly muted so far.

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