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    Global macro overview for 18/11/2015

    Global macro overview for 18/11/2015:

    The FOMC meeting minutes are scheduled for release at 7:00 pm GMT and are the most expected macroeconomic event for today as they may cast some light on the central bank's intentions in December. The latest statement was far more hawkish than the markets had anticipated and it send quite a clear message about a possible short-term interest rate hike this year in December. Two weeks after, the NFP report beat all expectations, which satisfied Fed policy makers for sure. Today's Fed minutes might reveal how strong the rate hike consensus is among policy makers as the December rate hike has gone from 35% chances before last months statement to 64% chances now.

    The EUR/USD pair is still trading quietly inside the black channel, but it did not manage to close above the 1.0678 resistance level. Only a sustained breakout above the grey rectangle might be considered bullish.


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