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Global macro overview for 07/12/2015

This week the markets will be absorbing the last weeks' fundamental data as the very important change has occurred regarding interest rates. Moreover, markets might start to position themselves before the Fed interest rate decision later next week, as the probability of the interest rate hike in December is at the level of 80% according to Fed Funds Futures pricing. Nevertheless, this week, key fundamental data will be revealed in the UK, China and Switzerland as there is plenty of fundamental data scheduled for release.

The US dollar index is slowly rising in quiet market environment and it looks like the test of the golden trend line from the bottom will happen soon. The support is seen at the level of 98.34 and the next resistance is seen at the level of 99.98.


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