Good and bad news for the dollar | 03 May 2021

GBPUSD trading plan:

Jerome Powell acknowledged the U.S. economy's growth, but said there was not yet enough evidence of "substantial further progress" toward recovery to warrant a change to policy. This is a negative signal for the dollar. U.S. consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 4.2% last month after falling 1.0% in February, the Commerce Department said. The government's generosity and expansion of the COVID-19 vaccination program to include all American adults is lifting consumer spirits, with a measure of household sentiment rising to a 13-month high in April. This is a positive signal for the US economy.

Investment idea: range 1.3790 -1.3880.