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Global macro overview for 09/11/2015

Global macro overview for 09/11/2015:

The US employment data was released last Friday. The NFP figures were much better than market participants had expected as an addition of 271,000 jobs exceeded all estimates of Bloomberg economists. Moreover, the wage growth increased and the unemployment rate felt to the level of 5.0%. Further improvements in the labor market is a precondition for the Fed policy makers in case of any possible short -term interest rate hike.

The EUR/USD pair declined rapidly to the level of 1.0707 after the news release. However, the pair has bounced a little higher performing a corrective cycle. The downtrend remains unchanged and next resistance is seen at the level of 1.0832.

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