US Average Hourly Earnings m/m comes in at 0.3% against 0.2% consensus

US Average Hourly Earnings month over month came in at 0.3% for September, exceeding the consensus expectation of 0.2%. This figure also represents an increase from the previous month’s reading of 0.1%. The actual print was 50.0% higher than the consensus forecast.

Following the release, the US Dollar strengthened against most major currencies. AUDUSD fell 20 pips 15 minutes after the release, while EURUSD declined 27 pips. GBPUSD dropped 35 pips, and NZDUSD was down 27 pips. USDCAD rose 70 pips, USDCHF gained 33 pips, and USDJPY increased 22 pips. Gold, XAUUSD, fell 759 pips. For context, the 15-minute moves for EURUSD, NZDUSD, USDCHF, and USDJPY are near or above their median 1-hour historical moves. GBPUSD’s 35-pip drop is also above its median 1-hour move of 23 pips. USDCAD’s 70-pip rise is notably larger than its median 1-hour move of 26 pips and its top-quarter move of 41+ pips. XAUUSD’s 759-pip decline is significantly larger than its median 1-hour move of 55 pips and its top-quarter move of 126+ pips.