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30.10.201509:41 Forex Analysis & Reviews: Global macro overview for 30/10/2015

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Global macro overview for 30/10/2015:

The Consumer Price Index Flash Estimate for the eurozone is scheduled for release at 10:00 am GMT today. This might be important news as the market expects a slight improvement from -0.1% y/y figure year ago to 0.0% y/y, but on monthly basis there is not much improvement. Despite the ECB efforts to boost the inflation growth rate, it seems to stays stubbornly around zero levels, mostly because of low energy prices. This might be another reason to increase the ECB bond-buying program in December 2015.

The EUR/USD pair has re-bounded higher after the Wednesday FOMC meeting news and now it is trading closer to the technical resistance at the level of 1.0996. The next resistance is seen at the level of 1.1096 and the next support is seen at the level of 1.0896.

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