USD up as labor market conditions continue to improve, job openings jumping to a fresh high

USD continues its upward trend on Tuesday morning, maintaining the strong momentum over the expectation that the Fed would begin asset tapering soon. Aside from the nonfarm payrolls released on Friday, job openings have also jumped to a fresh record high. The latest data from Monday show that vacancies have risen to 10.1 million, up by 590k. The forecast was at 9.28 million. Acute labor shortages have been reported in the leisure and hospitality sectors. The largest increases have been seen in business, retail, and food services.

In Mexico, July, consumer prices have increased by 5.81%, beating the forecast at 5.77%. It has slowed down to its 4-month low but is still above the central bank’s target. The Bank of Mexico will hold its policy meeting on Thursday, aiming at an inflation rate of 3% with a 1% tolerance range above and below that target.