Michigan Inflation Expectations comes in at 4.3% against 3.7% consensus

Michigan Inflation Expectations for August 14, 2026, came in at 4.3%. This figure was higher than the consensus expectation of 3.7%, representing a surprise of 16.2% against the forecast. The previous reading for this indicator was 4.2%.

Following the release, market reaction varied across pairs. AUDUSD saw a +1.4 pip move at 5 minutes, settling to -0.6 pips at 15 minutes. EURUSD moved +1.1 pips at 5 minutes and -0.1 pips at 15 minutes. GBPUSD was up +3.5 pips at 5 minutes, then down -0.5 pips at 15 minutes. NZDUSD showed a +1.4 pip gain at 5 minutes and +0.3 pips at 15 minutes. USDCAD moved -1.4 pips at 5 minutes and +5.4 pips at 15 minutes. USDCHF saw a +0.2 pip move at 5 minutes, increasing to +3.5 pips at 15 minutes. USDJPY gained +3.3 pips at 5 minutes and +8.6 pips at 15 minutes. XAUUSD moved +64 pips at 5 minutes and +48 pips at 15 minutes. For most pairs, these initial moves are relatively small compared to their typical median 1-hour moves, which range from 7 to 16 pips for the currency pairs and 30 pips for XAUUSD. XAUUSD’s 5-minute move of +64 pips is close to its top-quarter move of 66+ pips.