US Employment Cost Index rises 1.2% in Q1 vs. 1% expected
Source Fxstreet
- Employment Cost Index rose at a faster pace than expected in Q1.
- US Dollar Index stays in positive territory near 106.00 after the data.
The Employment Cost Index in the US rose 1.2% in the first quarter, the US Bureau of Labor Statistics (BLS) reported on Tuesday. This reading followed the 0.9% increase recorded in the last quarter of 2023 and came in above the market expectation of 1%.
"Compensation costs for civilian workers increased 4.2% for the 12-month period ending in March 2024 and increased 4.8% in March 2023," the BLS said in the press release. "Wages and salaries increased 4.4% for the 12-month period ending in March 2024 and increased 5.0% for the 12-month period ending in March 2023."
Market reaction
The US Dollar gathered strength against its rivals with the immediate reaction. At the time of press, the US Dollar Index was u p 0.35% on the day at 106.00.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
OFFICIAL TRUMP has seen notable volatility in recent days. The meme coin failed to breach its resistance level at $16 despite a brief bullish momentum last week.Since then, TRUMP has faced consistent
Ethereum price started a downside correction below the $1,850 zone. ETH is now consolidating and might drop further below the $1,785 support zone.
Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
