21.10.201511:12 Forex Analysis & Reviews: Global macro overview for 21/10/2015

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 21/10/2015:

The equities from around the world had been trying to recover for the past month after global turmoil triggered by China in August when their policymakers decided to devalue the yuan by 2%. Since then, the moderate movements could be observed in the global equities with the SPY index (SP500 ETF) filling the last gap down yesterday. Moreover, China's third quarter GDP figures came out worse than expected (6.9% vs. 7.0%). This is why the latest highs from August can still be tested again if the recent gains will be hold by bulls.

The technical picture confirms the fundamental assumptions as the level of 203.84 had been hit yesterday. The index is still trading inside a wide neutral zone and as long as the demand zone holds, the test of the recent high is still possible.

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.