EURUSD – Up
EURUSD trading plan:
U.S. consumer confidence slipped to a four-month low in November, with households less keen to spend on big-ticket items over the next six months amid high inflation and rising borrowing costs, heightening the risks of a recession next year. But the survey from the Conference Board also showed that consumers remained upbeat about the labor market, which could limit some of the anticipated economic downturn. The labor market has remained resilient despite the Federal Reserve’s stiff interest rate increases, helping to keep consumer spending and the overall economy afloat. The decline in confidence was concentrated in the 55-and-over age group as well as among households with annual incomes below $50,000. Lower-income households have borne the brunt of inflation that, before October, was marked by annual consumer prices increasing at rates not seen since the early 1980s.
Investment idea: buy 1.0295 and take profit 1.0400.
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