US job openings rose to 9 million in December

US job vacancies surprises towards the upside, with vacancies reaching 9 million versus estimates of 8.9 million. These December figures continue to underscore the strength of the US labour market, retaining hopes that a recession could be avoided. Thus, the rosy scenario where inflation continues on its downward trajectory whilst the economy remains resilient is igniting more optimism that a soft-landing could be in sight. However, the increased job openings will likely usher the Fed further into keeping rates elevated to ensure inflation remains subdued before deciding to cut rates. Another report released Tuesday, showed that US consumer confidence increased to the highest level in January since 2021, in part due to the upbeat labour market.