Average Hourly Earnings y/y comes in at 3.2% against 3.5% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
Average Hourly Earnings year over year for the United States came in at 3.2%. This figure was below the consensus expectation of 3.5%. The previous reading for this indicator was also 3.5%. This represents a surprise of -8.6% compared to the consensus forecast.
Following the release, the US Dollar showed broad weakness against major currencies. Fifteen minutes after the data, AUDUSD was up 33 pips, EURUSD was up 44 pips, and GBPUSD was up 50 pips. NZDUSD gained 32 pips. Against the US Dollar, USDCAD was down 45 pips, USDCHF was down 41 pips, and USDJPY was down 106 pips. Gold, XAUUSD, rose by 535 pips. These moves compare to historical top-quarter release reactions of 27+ pips for AUDUSD, 43+ pips for EURUSD, 49+ pips for GBPUSD, 30+ pips for NZDUSD, 41+ pips for USDCAD, 32+ pips for USDCHF, 43+ pips for USDJPY, and 125+ pips for XAUUSD.