07.09.201510:30 Forex Analysis & Reviews: Global macro overview for 07/09/2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Global macro overview for 07/09/2015:

Friday's much awaited NFP number release still did not ruled out Fed's short-term interest rate hike in September 2015. The number came out at 173k (against the forecast of 215k), nevertheless the unemployment rate dropped to the level of 5.1%. Please notice that this figures posed a dilemma for the Fed together with lower oil and commodity prices that will help keep inflation low. The Fed is likely to revise its longer-term economic projections: the growth might be revised up and unemployment might be revised down during the September meeting. The last problem is the2% inflation rate.

The technical picture for EUR/USD did not changed much after the NFP release as a new local low and new local high were reached in the H4 time frame. Current support is found at the level of 1.1086 and resistance is seen at the level of 1.1203.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.