US personal spending beats forecasts in August

At 12:30 GMT, the US economy released it reading of the personal spending for August, which rose 1%, higher than estimates of 0.7%, but lower than the previous reading of 1.5% after it was revised from 1.9%.

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Posted By laraparker : 02 October, 2020
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Euro rose in European trade for the second day against dollar away from two month lows, as haven demand retreats on the greenback amid hopes for further financial stimulus from the US.    EUR/USD rose 0.2% to 1.1684, after closing up 0.3% yesterday away from three-month lows at 1.1612.    The dollar index fell 0.2% on Tuesday for the second session away from two-month highs at 94.75.    US House President Nancy Pelosi said the Democratic lawmakers are preparing a anew rescue bill amounting to $2.2 trillion.    That overcame ECB President Christine Lagarde's remarks that euro's value is impacting European inflation, with policymakers keeping a close eye on the forex exchange.

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