US July JOLTS job openings 7.181m vs 7.378m expected

• Prior was 7.44m (revised to 7.36m)

• Job openings rate 4.3% vs 4.4% prior

• Hires 5.31m vs 5.27m prior

• Hires rate 3.3% vs 3.3% prior

• Total separations 5.29m vs 5.34m prior

• Separations rate 3.3% vs 3.3% prior

• Quits 3.21m vs 3.21m prior

• Quits rate 2.0% vs 2.0% prior

• Layoffs and discharges 1.79m vs 1.82m prior

• Layoffs and discharges rate 1.1% vs 1.1% prior

There has been a dovish market reaction to this report with Fed pricing for rate cuts ticking higher. Two year yields have fallen about 3 basis points.

The US dollar is also softer across the board by around 25 pips.