- The US Employment Cost Index rose 1.3% in the second quarter.
- The US dollar index remains in positive territory above 106.00.
The US Bureau of Labor Statistics (BLS) reported on Friday that the Cost of Employment Index rose 1.3% in the second quarter, down from 1.4% in the first quarter, but slightly above the market expectation of 1.2%.
“Wages and salaries increased 5.3% for the 12-month period ending June 2022 and increased 3.2% for the 12-month period ending June 2021,” the BLS post further read.
market reaction
The dollar remains resilient against its rivals after this data, with the US dollar index holding on to modest daily gains at 106.30.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
