Chicago Fed National Activity Index drops to -0.35 from 0.41
Fundamental Forex Analysis

Unit Labor Costs in fourth quarter rose 0.9% vs. 1.4% expected

  • Unit Labor Costs in Q4 rose less than expected.
  • US Dollar Index extends slide below 97 after data.

Unit Labor Costs in the fourth quarter rose 0.9% in the US following the 1.4% increase recorded in the third quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading came in worse than the market expectation of 1.4%.

Further details of the report revealed that Nonfarm Productivity in the same period rose 1.2% to miss analysts’ estimate of 1.4%.

USD reaction

The US Dollar Index edged lower after these disappointing figures and was last seen at 96.95, erasing 0.45% on a daily basis.

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