US leading index for April will also be released
At the top of the hour, the University of Michigan consumer sentiment index for May (P) will be released. The expectations are for 97.2. That is unchanged from the prior month reading.
Current conditions are expected to dip slightly to 112.2 from 112.3 and expectations are expected to fall to 86.8 from 87.4. The one-year inflation expectations came in at 2.5% in April, while the 5 – 10 year inflation expectations are at 2.3%
Also released at 10 AM will be the April leading index with expectations for a 0.2% rise versus 0.4% gain in March.
Of the two, the University of Michigan index is the most important.
US stocks have pared some of their declines:
- Dow, -128 points
- S&P index -18 points
- Nasdaq -58 points
There is a rather hefty 1.6B expiration in the EURUSD at 1.1175. That is where the EURUSD is currently trading. Sellers of options LOVE when the options expire at the strike price. They collect all the time value (chips on the table). "Winner. Winner. Chicken dinner" for those sellers today.
