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    Global macro overview for 12/10/2015

    Global macro overview for 12/10/2015:

    Today there is a bank holiday in the US with very few economic data releases expected, but there are some speeches from the Fed officials scheduled for later today, including Dennis Lockhart's one at 12:10 pm GMT and Lael Brainard's speech at 20:30 pm GMT. Market participants are watching carefully these speeches, despite the fact that the probability of the Fed's rate hike in October is less than 10%. Prospects for the hike to take place in December 2015 is now lest than 40%. If the Fed still has intention to raise the short-term interest rate this year, it should communicate this much better and scheduled speeches of officials offer the perfect opportunity.

    The technical picture of DXY US dollar index is showing a broken golden trend-line support and the market, which is trading below 50, 100, and 200 DMA. The next support is seen at the level of 94.05 and resistance is seen at the level of 95.20.


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