BREAKING: Michigan data tops estimates, inflation expectations fall

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The University of Michigan data, key economic report in today’s agenda, has just been released. The preliminary data for June came in above expectations as the main index, namely the Michigan Consumer Sentiment, rose to 86.4 from 82.9 in May. Also, it is worth to notice that 1-year inflation expectations - a key indicator for the markets these days - fell from 4.6% to 4.0%.

Michigan Consumer Sentiment in June: 86.4

Expected: 83.5
Previous: 82.9

Other important indices were as follows:

Michigan Current Conditions: 90.6 (vs exp. 92.3)
Michigan Consumer Expectations: 83.8 (vs exp. 79.0)
Michigan 1-year Inflation Expectations: 4.0% (vs exp. 4.6%)

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