Employment Cost Index, critical in tomorrow’s US docket – Danske Bank

FXStreet (Edinburgh) - In light of the mounting speculations about the timing of the first rate hike by the Fed, analysts at Danske Bank remarks the growing importance of the Employment Cost Index.

Key Quotes

“Key data to watch this week is the Employment Cost Index released together with Q4 GDP data on Friday”.

“This will give us more correct data on wage inflation and show whether the latest employment report's steep drop in average hourly earnings was a fluke”.

“If the index shows a similar decline in wage growth, we will reconsider our call for a June rate hike, but for now stick to our view”.