FXStreet (Edinburgh) – Senior Analyst Pernille Henneberg at Danske Bank noted the relevance of today’s ECI release in the US docket.
“The main release today is the US employment cost index, which is set to increase
“The quarterly index so far indicates that wage inflation is picking up in line with the diminishing slack in the labour market”.
“The release today is important for our call for a first Fed rate hike at the next FOMC meeting in September, but the FOMC will get additional information about the labour market development as the July and August job market reports will be released ahead of the September meeting”.
Senior Analyst Pernille Henneberg at Danske Bank noted the relevance of today’s ECI release in the US docket…
(Market News Provided by FXstreet)