Michigan 5-Year Inflation Expectations comes in at 3.3% against 3.3% consensus

Michigan 5-Year Inflation Expectations for August 2026 were released today, showing a reading of 3.3%. This figure matched the consensus expectation of 3.3% and remained unchanged from the previous release, which was also 3.3%. The surprise versus consensus was 0.0%.

Following the release, the US Dollar saw broad gains against major currencies over the initial 15 minutes. AUDUSD moved down 23 pips, EURUSD declined 32 pips, GBPUSD was down 27 pips, and NZDUSD fell 25 pips. USDCAD rose 31 pips, USDCHF gained 31 pips, and USDJPY increased 26 pips. Gold, XAUUSD, moved down 726 pips. For context, the 15-minute moves for AUDUSD, NZDUSD, USDCAD, USDCHF, and USDJPY were larger than their respective median 1-hour moves of 8 pips, 7 pips, 13 pips, 9 pips, and 12 pips. EURUSD’s 32-pip decline exceeded its typical top-quarter 1-hour move of 20+ pips. GBPUSD’s 27-pip decline was also substantial, approaching its top-quarter 1-hour move of 29+ pips. XAUUSD’s 726-pip decline significantly surpassed its typical top-quarter 1-hour move of 66+ pips.