US: Employment Cost Index edges lower to 1.3% in Q2 vs. 1.2% expected

• US Employment Cost Index rose 1.3% in the second quarter.
• US Dollar Index stays in positive territory above 106.00.

The US Bureau of Labor Statistics (BLS) reported on Friday that the Employment Cost Index was up 1.3% in the second quarter, down from 1.4% in the first quarter but slightly higher than the market expectation of 1.2%.

"Wages and salaries increased 5.3% for the 12-month period ending in June 2022 and increased 3.2% for the 12-month period ending in June 2021," the BLS' publication further read.

Market reaction

The dollar stays resilient against its rivals after this data with the US Dollar Index clinging to modest daily gains at 106.30.