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2:05 PM · 13 August 2021

BREAKING: Michigan Consumer Sentiment below forecasts, USD moves lower

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University of Michigan has just released its flash data for August. The headline Michigan Consumer Sentiment came in at 70.2 against expected 81.2 (previously 81.2) - a huge miss as the index plunged to lowest levels since 2011. 

Other subindices disappointed as well:

  • Michigan Current Conditions: 77.9 (previously: 84.5)

  • Michigan Consumer Expectations: 65.2 (previously: 79.0)

UoM’s inflation expectations were in the spotlight as well. Here the data turned out to be rather mixed. 

  • 1-Year Inflation Outlook: 4.6% (previously: 4.7%)

  • 5-Year Inflation Outlook: 3.0% (previously: 2.8%) 

The US dollar ticks slightly lower, gold prices jumped towards $1,770 an ounce. Major US indices retreated from record highs, but the scale of the move is rather limited. 

EURUSD, H4 interval. Source: xStation5

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