Friday’s opportunity for the greenback

Friday’s opportunity for the greenback

What will happen?

The USA expects a release of personal spending on May 28, at 15:30 MT time. It represents an important measure of consumer spending on goods and services in the US economy. The more consumers spend, the bigger is the economic activity of the United States. As a result, this data has a positive impact on the American currency.

How to trade on Personal Spending?

At first, visit the economic calendar. Find this release and check the estimates. Right after the release, compare the actual figures with the forecasts and follow the steps below.

  • If the indicator is higher than the forecasts, the USD will rise higher;
  • On the other hand, the USD will go down.

Instruments to trade: EUR/USD, GBP/USD, USD/JPY

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Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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