The Destruction Of The US Middle Class In One Chart: Quarterly Increase In Wages Is Smallest On Record | Zero Hedge: "As Valentin Marinov of Credit Agricole previewed:
Today's US data could be quite important as well with market focus likely to be on the Employment Cost Index (ECI) - easily the most comprehensive measure of wages in the economy.
Evidence of further ECI growth would be consistent with mounting wage pressures against the background of subdued trend economic growth and dissipating slack in the labour market. In turn, it would strengthen the case for lift-off sooner rather than later. USD could extend its gains broadly with markets also positioning ahead of the all-important NFP release next week."
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