Starting an early picture of the health of the labor sector in the United States (US), the JOLTS data was the first focus component published in the New York session yesterday.
Lower than expected, the number of job openings in the US in March slowed to 7.19 million compared to the forecast of 7.49 million.
The US consumer confidence data published together also came with a declining reading for the outlook for April.
The market movement was gloomy with the US dollar trading flat as investors became more cautious after the early 'warning' from the JOLTS data.
This follows the turmoil that is just about to begin with several more important data to be published today (Wednesday) which will be an important indicator for the Federal Reserve (Fed).
In the New York session tonight, the ADP data will be published which measures the increase in private employment in the US.
The latest increase is expected to slow back to around 114,000 after a 155,000 increase in March.
Released together, US Gross Domestic Product (GDP) data will be watched for an assessment of US economic growth in the first quarter of 2025.
Also following will be the PCE price index data that measures US personal consumption expenditures, which is one of the Fed's favorite inflation indicators.
After the data tonight, the market will be ready to await the main focus of this week, the US NFP jobs report on Friday.
In addition to watching economic data, investors should also continue to monitor the development of current issues in the market, especially regarding tariffs, which can affect sentiment changes.
