US Consumer Sentiment Leaps – USD/JPY Breaches 103, EUR/USD Dips Below 1.28
US Consumer exceeded expectations and this triggers a fresh wave of USD strength. The Reuters / University of Michigan preliminary consumer sentiment for the month of May jumped from 76.4 to 83.7 points, significantly above expectations for a score of 77.9 points. The Conditions Index rose to 97.5 points, exceeding predictions for 89.9 points. The “Expectations” sub-component is at 74.8, more than 68.1 initially estimated.
EUR/USD slid under the support line of 1.2805 and fell as low as 1.2797 at the time of writing before ticking a bit. Update: EUR/USD rebounded quite fast back up, and is now around the previous levels of 1.2820. Lots of action.
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