Michigan Consumer Expectations comes in at 54 against 51.8 consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
Michigan Consumer Expectations for the USD printed at 54, exceeding the consensus estimate of 51.8. This figure also came in above the previous reading of 50.7. The actual print represented a 4.2% surprise compared to the market consensus.
Measured market reaction 15 minutes after the release showed limited movement across major pairs. AUDUSD moved -0.1 pips, EURUSD moved +0.2 pips, and GBPUSD moved -1.7 pips. NZDUSD saw a -2.0 pip change, while USDCAD moved +1.3 pips. USDCHF remained unchanged at 0.0 pips, and USDJPY moved -1.1 pips. XAUUSD registered a -0.2 pip change. These initial movements are small when compared to the typical median 1-hour moves observed after past releases. For instance, EURUSD typically sees a median 1-hour move of 12 pips, and XAUUSD a median 1-hour move of 29 pips.