University of Michigan flash data for July was released today at 3:00 pm BST. Report was expected to show small improvement in headline Consumer Sentiment index, driven by improvement in Current Conditions subindex. Expectations subindex was expected to weaken slightly. Long-term inflation expectations were expected to drop.
Actual report turned out to be a positive surprise. Headline index jumped to 67.8, driven by Expectations subindex unexpectedly surging from 68.8 to 72.1. This has offset a drop in Current Conditions index from 62.7 to 60.9. Short-term inflation expectations remained unchanged at 2.9%, while long-term expectations remained at 3.0%, in spite of an expectations of a drop.
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Open real account TRY DEMO Download mobile app Download mobile appUSD gained following this slightly hawkish reading. EURUSD pulled back from daily highs and is trying to move below 1.10 mark. US index futures gained slightly.
University of Michigan flash data for July
- Consumer Sentiment: 67.8 vs 66.9 expected (66.4 previously)
- Current Conditions: 60.9 vs 63.1 expected (62.7 previously)
- Expectations: 72.1 vs 68.5 expected (68.8 previously)
- Short-term inflation expectations: 2.0% vs 2.9% expected (2.9% previously)
- Long-term inflation expectations: 3.0% vs 2.9% expected (3.0% previously)
Source: xStation5
