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Global macro overview for 18/08/2015

Global macro overview for 18/08/2015:

The most important economic news from the US for today is the building permits number for the month of July. The number is expected to be at the level o f 1,230K; (-8.0% m/m) vs. 1,343K; (7.4% m/m) month ago. The decline in permits is evident, but any number better than expected will make the dollar surge. Please remember that the FOMC meting minutes are scheduled for the release tomorrow and the market might start slowly discounting the possible September rate hike.

The technical picture of EUR/USD is not helping the euro bulls much and any good news from the US later today might cause another wave down for this pair towards the support at the level of 1.1020.

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