U.S. Q-2 non-farm productivity stronger than expected

U.S. Q-2 non-farm productivity has come in at +6.4%, stronger than the median forecast of +5.3%, and the largest rise since Q-3 2003. Good news for the dollar, EUR/USD trading a little lower, presently at 1.4135.

Q-2 non-farm labor costs declined -5.8%, a bigger contraction than the median forecast of -2.4% and the biggest decline since Q-2 2000. Not overly surprising given the parlous jobs situation I guess.