New York Fed survey of inflation expectations to be released at the top of the hour

There is one more economic released today. The New York Fed survey of consumer expectations will be released at the top of the hour. Last month showed:

Inflation Expectations:

• 1-year horizon: Unchanged at 3.0%.
• 3-year horizon: Increased to 3.0% (from 2.6%).
• 5-year horizon: Declined to 2.7% (from 2.9%).

Job Turnover Expectations:

• Probability of losing one’s job in the next 12 months decreased to 11.9% (-1.6 percentage points), the lowest since January 2024.
• Probability of voluntarily leaving one’s job fell to 18.2% (-2.0 percentage points), also the lowest since January 2024.

Job Finding Prospects:

• Perceived probability of finding a new job if unemployed dropped sharply to 50.2% (from 54.1%), the lowest since April 2021.

The University of Michigan consumer confidence report was released on Friday. Expectations moved lower with the one-year inflation expectations surging to 4.3% from 3.3% the prior month. That helped to push stocks lower.

US stocks are higher going into the report:

• S&P index is up 0.74%
• NASDAQ index is up 1.20%

Yields are lower with the two year yield down -2.7 basis points, and the 10 year yield down -2.1 basis points.

This article was written by Greg Michalowski at www.forexlive.com.