28 June 2021, EUR/USD
EURUSD trading plan:
U.S. consumer spending paused in May. Spending on services rose 0.7%, led by recreation, restaurants and hotels as well as housing and utilities. Spending on goods fell 1.3%, with outlays of long-lasting goods like motor vehicles tumbling 2.8%. Goods spending surged as the pandemic confined people to their homes. Consumers this month perceived higher inflation to be temporary, a fresh survey showed, aligning with the views of Fed Chair Jerome Powell and Treasury Secretary Janet Yellen. Consumers’ inflation expectations are key as they can influence households’ behavior. This is a negative statistic for the dollar.
Investment idea: buy 1.1905 and take profit 1.1980.
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