The University of Michigan consumer sentiment showed a sharp increase to 69.4 from 61.3 last month. The estimate was for 62.0. However, what the forex market is reacting to is the lower inflation expectations. The one-year inflation measure decreased to 3.1% from 4.5% last month. The five-year inflation measure moved to 2.8% from 3.2%.The EURUSD has moved back up to test its 100-day moving average and 50% midpoint of the November trading range at 1.0763 and 1.0766 respectively.A move above that level would disappoint the sellers off of the stronger US jobs report. There is nothing better than stronger growth and lower inflation as well. On topside on more upside momentum, the 1.0781 level is
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