{"id":43811,"date":"2023-04-04T17:01:00","date_gmt":"2023-04-04T16:01:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=43811"},"modified":"2023-04-05T00:08:59","modified_gmt":"2023-04-04T23:08:59","slug":"market-wrap-jolts-figure-slumps","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-jolts-figure-slumps\/","title":{"rendered":"Market Wrap &#8211; JOLTs figure slumps"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"43811\" class=\"elementor elementor-43811\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cab7066 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cab7066\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eaf9b6a\" data-id=\"eaf9b6a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3b9eca3 elementor-widget elementor-widget-text-editor\" data-id=\"3b9eca3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>A big slump in JOLTS data this afternoon caused major moves in the market, with the <a href=\"https:\/\/bit.ly\/3LKnOX3\" target=\"_blank\" rel=\"noopener\">VIX<\/a> jumping by nearly 4 percent as traders factor in a less aggressive FED.<\/p><p>The number of job openings in the United States fell by 632,000 to 9.9 million in February 2023, the lowest level since May 2021 and below market expectations of 10.4 million signalling the labour market might have started cooling.<\/p><p>Over the month, the largest decreases in job openings were in professional and business services (-278,000); health care and social assistance (-150,000); and transportation, warehousing, and utilities (-145,000).<\/p><p>On the other hand, the number of job openings increased in construction (+129,000) and in arts, entertainment, and recreation (+38,000). Meanwhile, the number of hires and total separations changed little at 6.2 million and 5.8 million, respectively. Within separations, quits (4.0 million) edged up, while layoffs and discharges (1.5 million) decreased.<\/p><p>The moves were fairly widespread as the <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair surged towards the 1.1000 benchmark level while the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> pair easily cracked the 1.2500 resistance zone.<\/p><p><a href=\"https:\/\/activtrader.activtrades.com\/account\/createaccount?setup=indeces\" target=\"_blank\" rel=\"noopener\">Stocks<\/a> naturally slumped as the JOLTS data implied that the economy was starting to splutter. The loses were fairly moderate though and as <a href=\"https:\/\/bit.ly\/3Ft5M80\" target=\"_blank\" rel=\"noopener\">bonds<\/a> also saw significant volatility.<\/p><p><a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">Gold<\/a> was a major beneficiary move as it rallied to a new 2023 high above the $2,000 level. <a href=\"http:\/\/bit.ly\/2VMGFEQ\" target=\"_blank\" rel=\"noopener\">Citigroup<\/a> sees gold hitting $2,300 and coming in the short term.<\/p><p>Citigroup said, \u201cGold has found itself on solid ground so far in 2023 with prices averaging ~$1,895\/oz year-to-date as the <a href=\"https:\/\/bit.ly\/400zg4T\" target=\"_blank\" rel=\"noopener\">US Dollar<\/a>\u2019s strength tapered and inflation abated slightly as <a href=\"https:\/\/bit.ly\/3ZbUSus\" target=\"_blank\" rel=\"noopener\">oil<\/a> came off its peaks.\u201d<\/p><p>Citi sees see four potential macro drivers for the market here. Firstly, STIR traders repricing to a significantly lower terminal rate and putting 2H\u201923 insurance cuts back on the table, prompting a rapid rally across the rates curve.<\/p><p>Secondly, concerns about potential systemic risk as potentially deflationary or increasing likelihood of recession, leading to investor demand for the \u2018lower vol\u2019 safe haven;.<\/p><p>Thirdly, light positioning for gold ETFs and options heading into the March 22 FOMC. And fourth, physical gold having no counterparty credit risk.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A big slump in JOLTS data this afternoon caused major moves in the market, with the VIX jumping by nearly 4 percent as traders factor in a less aggressive FED. The number of job openings in the United States fell by 632,000 to 9.9 million in February 2023, the lowest level since May 2021 and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":43813,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[18,42,20,28,646,169],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - JOLTs figure slumps - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-jolts-figure-slumps\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - JOLTs figure slumps Market Wrap - JOLTs figure slumps\" \/>\n<meta property=\"og:description\" content=\"A big slump in JOLTS data this afternoon caused major moves in the market, with the VIX jumping by nearly 4 percent as traders factor in a less aggressive FED.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-jolts-figure-slumps\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-04T16:01:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-04T23:08:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/04\/GettyImages-1289615432.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"772\" \/>\n\t<meta property=\"og:image:height\" content=\"415\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - JOLTs figure slumps Market Wrap - JOLTs figure slumps\" \/>\n<meta name=\"twitter:description\" content=\"A big slump in JOLTS data this afternoon caused major moves in the market, with the VIX jumping by nearly 4 percent as traders factor in a less aggressive FED.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-jolts-figure-slumps\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-jolts-figure-slumps\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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