The Federal Reserve Bank of New York monthly survey on consumer expectations showed on Monday that US consumers’ one-year inflation expectation eased to a new 10-month low of 5.7% in August from 6.2% in July, Reuters reported.
Consumers’ three-year inflation expectations fell to the lowest level in almost two years, at 2.8% in August, from 3.2% in July.
In addition, the publication revealed that consumers saw a lower probability of losing a job in August than in July and a greater probability of finding a new job in case of losing it. Additionally, consumers saw in August the least likely to leave their current job since March 2021.
market reaction
The greenback is struggling to find demand following this report and the US Dollar Index was last seen losing 0.72% on the day at 108.18.
Source: Fx Street
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