EUR/USD: Rumour Mill Rumbling Again - Low U Mich Being Touted

Rumours are circulating now that the U Mich survey will register a low 91.8, which this has popped EUR/USD up to its highest level since the 8:30 AM data - 1.2787 - and buyside accounts report that it is building a head of steam. The market could well be setting itself up for yet another disappointment ala the last set of data, but it doesn't appear to dissuade them. Fool me once shame on you, fool me twice? - we'll have to see what the data brings.