Dollar Pushes Higher on Strength in Oct JOLTS Jobs Report

Economic Indicators - The dollar index (DXY00) increased by +0.20% due to short covering ahead of the FOMC meeting, with the dollar gaining after October JOLTS job openings unexpectedly rose to a 5-month high of 7.670 million, indicating a stronger labor market than the expected decline to 7.117 million [1][3] - The markets are pricing in a 90% chance that the FOMC will cut the federal funds target range by 25 basis points at the conclusion of the upcoming FOMC meeting [3] Currency Movements - The euro (EUR/USD) decreased by -0.11% amid the dollar's strength and weaker-than-expected German trade news, with German October exports rising by +0.1% month-over-month, below the expected +0.2%, and imports falling by -1.2% month-over-month, worse than the anticipated -0.5% [4][5] - The yen (USD/JPY) rose by +0.53%, reaching a 2-week low against the dollar, pressured by comments from BOJ Governor Ueda regarding the pace of increase in long-term Japanese bond yields and the potential for increased bond buying by the BOJ [6]