US July Personal Income & Spending

On Friday we will get a look at how well the US consumer spend in July and by how much personal incomes rose. Consumer spending is vital for the health of the economy and the recent strong rally in the Us Dollar has opened this currency for a sharp correction on any disappointment from key economic data. Watch out for this report as it could reverse plenty of pips made over the past few weeks if the data disappointments. I am overall bearish on the US Dollar despite the release of minutes by the FOMC stating that interest rates may rise sooner than expected.