United States Consumer Spending dropped lower than expected in the month of June, reportedly released at a decreased 0.2%. This is the first drop in almost two years.
After a survey done by economists, it was estimated that Personal Spending would be increased by 0.2%. Previous reports on Consumer Spending indicated a gain of 0.1%.
Personal Consumption Expenditure were released at 0.1%, lower than the 0.2% forecasted.
EUR/USD had mixed feelings today as the pair was trading between the points of 1.4150 to 1.4210, without a steady pace of upwards of downwards.
The U.S awaits the critial vote on the debt deal; most seem positive that the debt deal will pass with enough votes. The Euro surged to strength a little after the U.S release of Consumer Spending, breaking its 1.4211 barrier to reach 1.4225 and back down to 1.4111.
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