The dollar has now strengthened against the euro, returning to where it was last week. Against sterling, it has been a choppy start to the week with no clear diection.
Yesterday the figures for job openings in the US continued to rise, coming in well above market expectations of 11 million (and were still above pre-pandemic levels). These numbers suggest the demand for workers is still tremendously high.
Today we await the ISM Non- Manufacturing PMI for July which will be released later this afternoon. It is not entirely clear what the data may reveal as ISM Services PMI lowered to 55.3 in June from 55.9 in May, but the services sector still shows signs of growth, beating the market forecast.
Overall outlook still quite challenging as coronavirus pandemic and war in Ukraine continues to impact the service sector.