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UoM consumer sentiment slides to 72

The preliminary consumer sentiment report by the University of Michigan dropped to 72 points. It was expected to show a score of around 75 points. A revision is expected later in the month.

This is the figure for November, after the government shutdown, making it somewhat disappointing.

Earlier, Non-Farm Payrolls surprised to the upside by rising 204K, much more than 130K that was expected. Despite distortions due the government shutdown, the strong report helped the dollar and raised the chances of QE tapering in December.

The dollar seems to be unaffected by the small drop, as the excellent NFP has the upper hand. EUR/USD is at 1.3350 after losing 1.34 before the jobs report. GBP/USD is below 1.60 after giving a fight. USD/JPY is climbing towards 99 once again.

Opinion:  Dectaper getting more real after the strong NFP

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.