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Personal Spending in the United States declined by 13.6% on a monthly basis in April, the data published by the US Bureau of Economic Analysis showed on Friday. This reading came in worse than the market expectation for a fall of 12.6%.

Meanwhile, Personal Income uınexpectedly increased by 10.5% in the same period and beat analysts’ estimate for a decrease of 6.5% by a wide margin.

Developing story…

Market reaction

Investors don’t seem to be paying much attention to these data releases while waiting for US President Donald Trump to host a news conference on China later in the day. As of writing, the US Dollar Index, which tracks the greenback’s performance against a basket of six major currencies, was down 0.47% on the day at 98.00.

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