USD/JPY Forecast: Consumer spending rose 0.6% last month

jpy_1USDJPY trading plan:

Consumer spending rose 0.6% last month, and the number of Americans filing new claims for unemployment benefits held below pre-pandemic levels last week. Claims dropped between the November and December survey periods, suggesting a pickup in job growth this month. A separate report from the Commerce Department showed consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.6% last month after shooting up 1.4% in October. Services surged 0.9%, accounting for nearly all the gain in spending. The broad increase in services was led by housing and utilities. The new home sales racing to a seven-month high and manufacturing still buoyant in November, came as the nation was battling a resurgence in COVID-19 infections, driven by the Delta strain and the highly transmissible Omicron variant.

Investment idea: buy 114.06 and take profit 114.52.

Positive macroeconomic statistics from the United States

Origin: FreshForex

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