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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Average hourly earnings continued their string of revisions that notably change the prior trend although it was slightly less significant than the last two months.
- Recalling that AHE was surprisingly strong in Nov before being revised significantly lower in Dec, we’re now left with earnings growth having been roughly in the middle of the two, increasing an average 0.41% M/M through Q4 (and with a very similar pace for the non-supervisory measure).
- The latest rate however, in cooling to 0.30% M/M in January (0.25% non-super), left it at a similar pace to that initially seen in Dec and what Fed Chair Powell referred to as “abating a little bit”.
- The moderation in the Q4 ECI release earlier this week likely still carries more weight, but today’s AHE data are a timely reminder that any moderation in wage growth won’t necessarily be in a straight line.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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