Reducing consumer spending in the United States | 01 February 2021

01 February 2021, EUR/USD

Reducing consumer spending in the United States

EURUSD trading plan:

U.S. consumer spending fell for a second straight month in December amid renewed business restrictions to slow the spread of COVID-19 and a temporary expiration of government-funded benefits for millions of unemployed Americans. When adjusted for inflation, consumer spending decreased 0.6% last month after dropping 0.7% in November. That likely sets a lower base for consumer spending in the first quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, slipped 0.2% last month as outlays at restaurants declined.

Investment idea: Buy 1.2119 and take profit 1.2164.

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David Johnson
Analyst of «FreshForex» company
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