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According to analysts at TD Securities, the US employment cost index (ECI) is expected to advance 0.7% in Q1, keeping with its quarterly pace at the end of last year.

Key Quotes

“On annual terms, the quarterly rate would imply a 2.8% increase and a marginal decline from 2.9% y/y in Q4 “”a ten-year high.”

“Conversely, the Conference Board’s consumer confidence index likely improved in April to 127.0, following a 7pt decline to 124.1 in March. Despite notable consecutive declines in Dec-Jan, confidence remains at firm levels and near the 2018 average.”