US economic data slightly weaker🧐
First, the number of JOLTS job vacancies was 9.582 million, slightly lower than the expected 9.6 million. At the same time, the resignation rate also dropped to 2.4%, reaching the low of the past two years. The key "vacancies to unemployed people" ratio remained stable at 1.6 times, which is at the cycle low since 2021, but is still extremely high by historical standards.
In addition, the ISM manufacturing index in July was 46.4, lower than the expected 46.9. The performance of component projects was mixed. New orders and production increased, while employment declined. However, the price paid fell sharply to 42.6, which is good for market risk sentiment. Positive news, various signs of slowing inflation were welcomed by risk assets.
