EUR/USD Fails to Maintain Rally After US Consumer Sentiment Provides Positive Surprise

EUR/USD attempted to rally intraday but failed to keep gains, especially after the consumer sentiment reported by the University of Michigan demonstrated surprisingly sharp improvement.
Leading index rose 0.2% in April, in line with expectations. The March increase got a negative revision from 0.4% to 0.3%. (Event A on the chart.)
Michigan Sentiment Index surged to 102.4 in May from 97.2 in April, far above the forecast value of 97.8. That was the highest level in fifteen years. (Event A on the chart.)

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