Today's economic data releases, a recap of the data releases.

Today's economic data releases, a recap of the data releases.

U.S. April JOLTs Job Openings (10,000), posted 805.9 in line with my expectations of a cooling job market.

U.S. April factory orders monthly rate, released 0.7%, in line with my expectations.

(shallowly pretending to be 13)

U.S. factory orders data for April, as already mentioned, the single figure, while bearish, is positive in the long run as orders shrink. But there is still the threat of stagnation, so let's not talk about it here.

Focus on the job openings data in April, although it is April's data, but according to the data changes, you can make an expected analysis of a series of data in May.

Let's start with April's job openings data, which comes from the U.S. Bureau of Labor Statistics:

April's labor market remained relatively stable, weaker than the same period last year, but the overall situation is still belong to a higher level, the data to see a slight weakening of the employment data.

Job openings: health care and social assistance and local government and education job openings declined. there are many factors that could have contributed to the decline in hiring, but job losses can also lead to short-term tightness in supply and demand for jobs, and even lead to an increase in the cost of services. we saw pressure from the service sector in the April PCE data.

Hiring: durable goods manufacturing hiring increased in April, while arts and entertainment, recreation, and federal government hiring decreased.

Separations: Total separations were essentially unchanged in April totaling 5.4 million, with 3.5 million active separations and 1.5 million inactive layoffs (firings, layoffs). Separations were higher in the durable goods manufacturing and government education sectors and lower in professional and business services.

Through the above data can be seen, the service industry and the government sector job vacancies decreased, recruitment decreased, while leaving the relative reduction (government departments to leave the increase), indicating that at present in the U.S. service industry is still a relatively stable industry, more people are willing to engage in the service industry, but the reduction of jobs, recruitment reduction is also evidence of the current U.S. economic expectations are not particularly optimistic, and at the same time a more robust labor At the same time, the stronger labor market and reduce the difficulty of recruitment, resulting in a relative slowdown in recruitment in the service sector, but also in disguise will push up the cost of the service industry and related costs growth.

However, the overall reduction in vacancies also proved that the labor market is gradually slowing down, helping to curb inflation, while boosting tomorrow's small non-farm payrolls data as well as Friday's unemployment rate and large non-farm payrolls data. Now with US stocks holding small losses on the back of the data, but crypto market Bitcoin breaking 70k on sentiment guidance, if tomorrow's small NFP data further cements expectations of a recession in jobs data, expectations for an optimistic rate cut this year could be pushed further up this week, which could also impact risk markets higher.