US Michigan Consumer Sentiment Index rose in May; EUR/USD under a great deal of pressure
The US Michigan’s indicator increased to 79.3 from 76.4 last month and compared to consensus for 77.8.
EUR/USD had pared some of yesterday’s loss before dropping back by 80 pips today at 13:15PM on news that Spain’s Catalonia region was asking for help to solve its financing-debt problems. So far, the pairs downfall has started to show some signs of consolidation after having hit a session-lows at 1.2496 and is now trading around the 1.2530 level.
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