BREAKING: USD strengthens after Michigan Consumer Sentiment reading

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The University of Michigan's consumer sentiment for the US was revised higher to 71.7 in October from a preliminary of 71.4 and below September’s final reading of 72.8. The current conditions gauge dropped to 77.7, below a preliminary of 77.9 and down from 80.10 last month. Expectations were revised higher/ to 67.9 from 67.2 and compared to August’s 68.1. Meanwhile, inflation expectations for the year ahead were increased slightly to 4.8% from preliminary of 4.7% while the 5-year outlook rose to 2.9% from preliminary 2.8% and 3% in the prior month.

EURUSD pair broke below the 1.1620 support after today's data release and next support level at 1.1590 may be at risk. Source:xStation5

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