04 October 2021, EUR/USD
EURUSD trading plan:
U.S. consumer spending surged in August, but outlays adjusted for inflation were weaker than initially thought in the prior month. The report from the Commerce Department, which showed inflation remaining hot in August, raised the risk of consumer spending stalling in the third quarter, even if spending accelerates further in September. Inflation-adjusted or the so-called real consumer spending is what goes into the calculation of gross domestic product. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rebounded 0.8% in August. Data for July was revised down to show spending dipping 0.1% instead of gaining 0.3% as previously reported. This is negative macro statistics for the dollar.
Investment idea: buy 1.1562 and take profit 1.1640.
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