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U.S. consumer spending rebounded strongly

U.S. consumer spending rebounded strongly | 01 March 2021

01 March 2021, USD/JPY

U.S. consumer spending rebounded strongly

USDJPY trading plan:

U.S. consumer spending rebounded strongly in January as the government doled out additional pandemic relief money to low-income households and new COVID-19 infections dropped, setting up the economy for faster growth in the first quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 2.4% last month after decreasing 0.4 in December, the Commerce Department said. Personal income shot up 10% last month. This is a positive signal for the U.S. currency!

Investment idea: buy 106.37 and take profit 106.81.

David Johnson
Analyst of «FreshForex» company
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