US Michigan Inflation Expectations Prel (May) 4.5% (Prev. 4.7%)

The preliminary May inflation expectations from the University of Michigan show a decrease to 4.5% from the previous 4.7%. This decline suggests a cooling in consumer inflation sentiment, which could impact the Fed's outlook on monetary policy, potentially easing the path for rate increases if sustained, thereby influencing both the bond market and the dollar's strength.