So just recently the “Reuters/Michigan Consumer Sentiment Index” came out with a report involving the confidence in the USD.
The consensus was 91.5, the actual was 90.4 and the previous was 90.0.
Since the consensus surpassed the actual it lead me to believe the market would not favor the USD. Then in about five minuets the GBP/USD went down 50 pips while most other USD base currencies surged about 20 pips.
Now that I look back, I must of just misread it. My guess is that the index technically showed more confidence in the U.S. economy but the consensus was just over valued.
Am I right or are there other outside events that I am not realizing?
Thanks in advance,