As the European economy is moving out of recession, the Euro currency is at key levels against the U.S. dollar. A movement above the next resistance could set the trend for the next weeks/months.
U.S.: consumer spending to increase?
More time is needed to see some tangible results, but the economy is on the move again in the United States. Last week, the Beige Book confirmed that the economic activity is stabilizing, as the job market and the manufacturing sectors are registering some minor upticks. In reality, the average duration of unemployment is at historical highs and jobless rate for young people is almost 26%. Public offices are laying-off employees, since some states are registering declines in tax revenues. Initial jobless claims fell to 550,000 in the week of September 5th, versus the expected down move of 570,000. Nevertheless, they remain near the high of the year. Housing, at the contrary, appears to be finally out the woods. Inventories are declining, while building permits are increasing. Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media. This article contains the following sections: 
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