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S+P 500 futures rise as US employment costs fall

There has been some further US and Canadian data just now released, We had a slight 0.1% beat on the latest Canadian GDP data, but that has not massively impact the CAD. At the same time the latest US ECI- employment cost index fell by more than expected- to 0.9% from a prior reading of 1.1% and that seems like it is a bigger deal for the markets. This news pushed the dollar lower across the board and lifted the EUR/USD above 1.0850 and the GBP/USD above 1.27. What is has also done it to lift US stock futures again and even the Nasdaq 100 futures are rising now. The Dow Jones futures just hit a fresh session high above 38,560, but have backed off a bit now. The focus here in on the S+P 500 index future because that is the broader measure by which to gauge the impact of this data. The index future there is now pricing a reopening at above 4,900, where for much of the morning it was struggling for traction due to the downside seen in the Nasdaq equivalent. However, it remains to be seen, if this rise will be sustained into the opening in less than one hour from now 
 

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