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02.10.201514:08 Forex Analysis & Reviews: Global macro overview for 02/10/2015

Long-term review

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Global macro overview for 02/10/2015:

The Construction PMI report revealed another peak to 59.9 in September, up from 57.3 in August in all three fields of activity: residential, commercial and civil engineering. The leading field of construction is currently the residential building that raises fastest in last 12 months. Moreover, greater workloads and positive sentiment towards the business outlook contributed to a sharp increase in staffing levels during September. This strong data will definitely catch the attention of Mark Carney from Bank of England and re-assure his point of view to raise the interest-rates by the end of 2015.

Technical picture hasn't changed much as the GBP/USD pair is still testing the resistance level at 1.5171. A lack of a corrective bounce above this level would mean another test at 1.5000 would be around the corner.

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