NY Fed inflation expectations ease modestly in the short term

Agustin Wazne FXStreet

The New York Fed Survey of Consumer Expectations shows that households’ inflation expectations decreased slightly over the short-term horizon and remained unchanged at the medium and longer-term horizons. One-year inflation expectations eased from 3.7% in June to 3.6% in July

For the next three years, the poll showed that households expect inflation to hold at 3.3%, unchanged from the previous release. Finally, in the five-year perspective, households still expect inflation to remain at 3% as in June.

The survey also showed that expectations for gas price growth partially rebounded after their sharp decline in June. Labor market expectations were mixed, with unemployment and job loss expectations deteriorating while job finding expectations improved somewhat.

Market’s reaction

The US Dollar Index (DXY) hovers around 99.60, relatively unchanged after the release. The DXY is down on the day, weighed on by the discouraging Nonfarm Payrolls (NFP) report published earlier in the day.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.31%	-0.31%	-0.46%	-0.56%	-0.43%	-0.35%	-0.58%
EUR	0.31%		-0.00%	-0.13%	-0.23%	-0.14%	-0.06%	-0.26%
GBP	0.31%	0.00%		-0.13%	-0.24%	-0.13%	-0.04%	-0.26%
JPY	0.46%	0.13%	0.13%		-0.11%	0.00%	0.09%	-0.15%
CAD	0.56%	0.23%	0.24%	0.11%		0.11%	0.20%	-0.03%
AUD	0.43%	0.14%	0.13%	-0.01%	-0.11%		0.09%	-0.15%
NZD	0.35%	0.06%	0.04%	-0.09%	-0.20%	-0.09%		-0.22%
CHF	0.58%	0.26%	0.26%	0.15%	0.03%	0.15%	0.22%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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