US Consumer Sentiment Improves, EUR/USD Erases Gains

EUR/USD surged today on the positive economic data from Europe, but quickly lost its gains. The US economy also showed robust growth as the reports about inflation and consumer sentiment indicated. EUR/USD trades now at 1.4193, following the jump from 1.4244 to 1.4340.
US CPI rose 0.4% in April on a seasonally adjusted basis, proving forecasts correct. The growth in March was at a 0.5% rate. (Event A on the chart.)
Preliminary Michigan Sentiment Index was at 72.4 in May, posting an increase from the April revised value of 69.8. The expected value for May was 70.0. (Event B on the chart.)

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