In the European session, the only notable release is the US NFIB Small Business Optimism Index which might surprise to the downside given the recent weakening in the growth data. The main event today will be the US Job Openings data being released in the American session.
14:00 GMT/08:30 ET – US January Job Openings
The US Job
Openings are expected at 7.630M vs. 7.600M prior. The last report missed expectations although the quits and hiring rates remained unchanged. Overall, the data has been pointing to a resilient labour market where it
might be hard to get a job but there’s also less chance of losing one.
In the current context, the market wouldn’t want to see ugly data as the sentiment remains negative due to the fears of slowing growth coupled with the inflation constraint that limits the Fed’s reaction. The main event of the week remains the US CPI report tomorrow.
US Job Openings
