17 May 2021, EUR/USD
EURUSD trading plan:
US retail sales were flat in April, after an upwardly revised 10.7% jump in the prior month as spending fueled by stimulus checks dried up. Stimulus checks were mostly used up in March spending. Consumer spending, which makes up two-thirds of the economy, has been earmarked by some as the key to sustain the broader market rally, particularly in economically-sensitive cyclicals stocks, as the support from monetary and fiscal stimulus will eventually be reined in. Sales at clothing stores tumbled 5.1%. There were also decreases in sales at sporting goods, hobby, musical instrument and book stores. Sales at building material stores slipped 0.4%. Online retail sales fell 0.6%.
Investment idea: buy 1.2110 and take profit 1.2160.
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