• Unit Labor Costs in US rose sharply in third quarter.
• US Dollar Index continues to edge higher toward 94.30.

Unit Labor Costs in the US rose at an annual rate of 8.3% in the third quarter, the US Bureau of Labor Statistics reported on Thursday. This reading surpassed the market expectation of 5.2% by a wide margin and followed the second quarter's increase of 1.3%.

Further details of the publication revealed that the Nonfarm Productivity declined by 5% in the same period, missing analysts' estimate for a decrease of 1.5%. 

Market reaction

The greenback continues to outperform its rivals following these mixed prints and the US Dollar Index was last seen rising 0.46% at 94.28.