ECB: Euro area’s negotiated wages rise by 5.42% YoY in Q3 2024 vs. 3.54% in Q2

Dhwani Mehta FXStreet

On Wednesday, the European Central Bank (ECB) released its indicator of the Euro area’s negotiated wages data for the third quarter of 2024.

Data showed that the Euro area negotiated wages accelerated at an annual pace of 5.42% in Q3 2024 after growing by a revised 3.54% in the second quarter of this year.

Market reaction to the EU negotiated wages data

The sudden pick up in the EU negotiated wage growth fails to offer any support the Euro, as EUR/USD flirts with intraday lows near 1.0550, as of writing.

About ECB indicator of negotiated wage growth

The ECB indicator of negotiated wage growth is computed for a subset of countries only. The euro area aggregate is based on nine countries: Germany, France, Italy, Spain, the Netherlands, Belgium, Finland, Austria and Portugal. The indicator relies on data for negotiated monthly earnings. The euro area indicator is based on a mixture of monthly and quarterly time series and is based on non-harmonised country data.

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.34%	0.05%	0.69%	0.11%	0.28%	0.40%	0.35%
EUR	-0.34%		-0.29%	0.33%	-0.24%	-0.05%	0.05%	0.00%
GBP	-0.05%	0.29%		0.61%	0.05%	0.24%	0.34%	0.30%
JPY	-0.69%	-0.33%	-0.61%		-0.57%	-0.40%	-0.29%	-0.33%
CAD	-0.11%	0.24%	-0.05%	0.57%		0.18%	0.29%	0.25%
AUD	-0.28%	0.05%	-0.24%	0.40%	-0.18%		0.10%	0.07%
NZD	-0.40%	-0.05%	-0.34%	0.29%	-0.29%	-0.10%		-0.05%
CHF	-0.35%	-0.00%	-0.30%	0.33%	-0.25%	-0.07%	0.05%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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