Michigan 5-Year Inflation Expectations comes in at 3.3% against 3.4% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The Michigan 5-Year Inflation Expectations for August 14, 2026, came in at 3.3%. This figure was below the consensus expectation of 3.4%, representing a surprise of -2.9% against the forecast. The actual print matched the previous release, which was also 3.3%.
Following the release, market reaction across major USD pairs and XAUUSD was generally muted in the initial 15 minutes. AUDUSD moved -0.6 pips, EURUSD -0.1 pips, and GBPUSD -0.5 pips. NZDUSD saw a slight gain of +0.3 pips. USDJPY moved +8.6 pips, USDCAD +5.4 pips, and USDCHF +3.5 pips. XAUUSD moved +48 pips. These moves are relatively small compared to the median 1-hour moves observed after past releases, for example, AUDUSD typically moves 8 pips, EURUSD 12 pips, and GBPUSD 16 pips. XAUUSD’s +48 pips move is larger than its median 1-hour move of 30 pips, but below its top-quarter move of 66+ pips.