The University of Michigan consumer sentiment index soared to 73.1 in its latest reading, helping give the dollar a modest respite. If the stirring of “animal spirits” helps lift sales down the road, the economy should stay clear of recession.
Wholesale inventory data rose as well, up 1.1%. This will help add to GDP, perhaps offsetting some of the drag from the wider trade figures earlier in the week.
EUR/USD trades at 1.4110 after running into corporate sellers in the 1.4120s.
