U.S. Dollar Retreats As JOLTs Report Misses Expectations: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Pulls Back As Traders Focus On The Weak JOLTs Job Openings Report

U.S. Dollar Index pulls back as traders react to the weaker-than-expected JOLTs Job Openings report. The report showed that JOLTs Job Openings declined from 8.156 million in November to 7.6 million in December, compared to analyst consensus of 8 million.

In case U.S. Dollar Index stays below the support at 108.30, it will head towards the next support level, which is located in the 106.80 – 107.00 range.

EUR/USD Is Heading Towards The 1.0400 Level

EUR/USD gains ground as traders react to the weak job market data from the U.S.

EUR/USD has recently managed to climb above the resistance at 1.0335 – 1.0350 and is trying to gain additional upside momentum. In case this attempt is successful, EUR/USD will move towards the next resistance at 1.0420 – 1.0435.

GBP/USD Tests Resistance At 1.2485 – 1.2500

GBP/USD is moving higher as traders focus on general weakness of the American currency.

A successful test of the resistance at 1.2485 – 1.2500 will push GBP/USD towards the next resistance level at 1.2600 – 1.2615.

USD/CAD Tests Support At 1.4330 – 1.4350 As Trump Agrees To Pause Tariffs On Canada

USD/CAD is under pressure as President Donald Trump agreed to pause tariffs on Canada for 30 days.

Currently, USD/CAD is trying to settle below the support at 1.4330 – 1.4350. In case this attempt is successful, USD/CAD will move towards the next support level, which is located in the 1.4180 – 1.4200 range.

USD/JPY Is Moving Lower As Treasury Yields Pull Back

USD/JPY is losing some ground as traders focus on the pullback in Treasury yields and evaluate the impact of trade wars.

The technical picture remains unchanged as USD/JPY is stuck between the support at 153.50 – 154.00 and the resistance at 156.00 – 156.50.

For a look at all of today’s economic events, check out our economic calendar.