Daily News | Consumer spending on the rise

We are in the middle of this week in global binary options trading and there is plenty of great news out there for everyone looking to make a pretty penny on the currency market! This Wednesday, we focused on the British pound sterling. From Monday to Tuesday, the GBP fell from $1.2845 to $1.2854. JPMorgan strategists said yesterday that they expect British stocks to regain some momentum after seriously underperforming against the Eurozone and global peers. In fact, the FTSE 350 index is up 6% this year, compared to the Eurozone’s STOXXE, which grew 10%. They expect the sterling’s appreciation against the dollar to stop soon, so be on the lookout for that! We will continue to monitor the pound in the future, but let us now shift to the US dollar. In the same period, the currency fell from €0.8944 to €0.8942. It seems that US consumer spending has reached its biggest increase in four months in April, with monthly inflation rebounding. Consumer spending accounts for two thirds of the country’s economic activity and is likely to remain on solid ground going into the future. We will, naturally, continue to monitor the US economy in the future, so be sure to stick with us!

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Author: Max Rothstein

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