U.S. Dollar Pulls Back As JOLTs Job Openings Drop: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Retreats As Traders Focus On JOLTs Report

U.S. Dollar Index is losing ground as traders react to JOLTs Job Openings report. The report indicated that JOLTs Job Openings decreased from 7.357 million in June to 7.181 million in August, compared to analyst forecast of 7.4 million.

In case U.S. Dollar Index settles back below the 98.00 level, it will head towards the support, which is located in the 97.10 – 97.30 range.

EUR/USD Climbed Above The 1.1650 Level

EUR/USD is moving higher as traders focus on the weaker-than-expected job market data from the U.S.

The nearest resistance level for EUR/USD is located in the 1.1685 – 1.1700 range. A move above this level will open the way to the test of the next resistance at 1.1785 – 1.1800.

GBP/USD Rebounds After Sell-Off

GBP/USD rebounds as UK bond markets stabilized after strong sell-off. From a big picture point of view, traders remain worried about the health of UK finances.

In case GBP/USD settles above the 1.3450 level, it will head towards the next resistance level at 1.3485 – 1.3500.

USD/CAD Is Flat As Traders Ignore The Rally In Precious Metals Markets

USD/CAD is mostly flat despite the strong rally in precious metals markets. Other commodity-related currencies are moving higher in today’s trading session.

If USD/CAD manages to settle above the 50 MA at 1.3795, it will move towards the resistance, which is located in the 1.3845 – 1.3860 range,

USD/JPY Pulls Back As Treasury Yields Fall

USD/JPY is losing ground as traders focus on the pullback in Treasury yields. Global bond markets stabilized, and the yield of 2-year Treasuries declined towards the 3.60% level.

From the technical point of view, USD/JPY needs to stay above the 148.00 level to have a chance to gain upside momentum in the near term.

For a look at all of today’s economic events, check out our economic calendar.