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US: Non-farm Productivity fell 1.9% in Q4

The US Non-farm Productivity contracted 1.9% during the fourth quarter, missing the median at -1.6% and markedly lower from +3.2% in the previous quarter.

The Unit Labour Costs rose 4.6% in the same period, surpassing estimates at +4.2% and reverting the prior drop of 2.3%.

Forex Flash: Productivity growth is the paramount driver of US long-term growth – Goldman Sachs

According to the Economics Research Team at Goldman Sachs, “We take stock of the latest evidence on productivity growth in the US and review the implications for markets. Many economic scenarios that would be bearish for rates and credit spreads, and for risky assets more generally, tend to involve the risk that productivity growth slows and drags down the trajectory of long-run growth.”
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Forex: USD/JPY continues daily surge to post 2009 highs on Draghi speech

USD/JPY has steadily climbed throughout today's European session to post highs since 2009 following BoE and ECB decisions to hold policy.
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