BREAKING: UoM's consumer sentiment below expectations📉EURUSD ticks higher

03:00 PM BST, United States - University of Michigan inflation report for October:

• Michigan 1-Year Inflation Expectations: actual 2.9%; forecast 2.7%; previous 2.7%;

• Michigan 5-Year Inflation Expectations: actual 3.0%; forecast 3.0%; previous 3.1%;

• Michigan Consumer Expectations: actual 72.9; forecast 75.0; previous 74.4;

• Michigan Consumer Sentiment: actual 68.9; forecast 70.9; previous 70.1;

• Michigan Current Conditions: actual 62.7; forecast 64.3; previous 63.3;

The report came as a bitter surprise in all almost all categories, with 5-Year inflation expectations hiting the mark at 3%. The consumer sentiment slipped below 70 to 68.9, in spite of expectations of conitnued growth from the report.

Source: xStation5