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Global macro overview for 11/08/2015

Global macro overview for 11/08/2015:

Greece and its creditors are one step closer to finalize the 86-billion bailout deal after one of the Greek officials said the budget surplus targets have been agreed. This deal is very important for the Greek solvency as the debt repayment of 3.2 billion to the European Central Bank is due on August 20. An agreement would signify the end of a long story on bailout negotiations for Greece, which opposed against austerity terms demanded by creditors for months before accepting a deal under the threat of being thrown out of the euro zone.

The EUR/USD pair might be on a verge of a breakout higher above the golden trendline when the bailout talks will be officially confirmed. The first resistance comes at the level of 1.1130; the second one, at 1.1217.

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