Good and bad news | 02 Agosto 2021

EURUSD trading plan:

U.S. consumer spending surged in June as vaccinations against COVID-19 boosted demand for services. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rebounded 1.0% last month after dipping 0.1% in May, the Commerce Department said. Nearly half of the population has been vaccinated against COVID-19, allowing Americans to travel, frequent restaurants, visit casinos and attend sporting events among services-related activities that were curbed early in the pandemic. This is a positive factor for the dollar. Top oil exporter Saudi Arabia is expected to raise crude prices for sales to Asia in September for a second straight month, tracking strength in Middle East benchmarks. This is a positive factor for oil and a negative factor for the dollar, since assets have an inverse correlation.

Investment idea: range 1.1835 – 1.1910.