13.03.201711:33 Forex Analysis & Reviews: Global macro overview for 13/03/2017

Global macro overview for 13/03/2017:

World financial markets will be absorbed by several policy meetings of global central banks scheduled for this week. So regulators of the U.S., Japan, the United Kingdom, and Switzerland are due to announce their monetary policy decisions. Besides, iInvestors will look out for the important news coming from a two-day meeting of central bankers and finance ministers of the G20 countries in Germany. These messages may provide investors with further guidance as to the condition of the global economy and the future direction of monetary policy. Let's take a look at the macroeconomic event calendar to prepare for the upcoming data releases.

Monday, 13th of March:

01:30 pm GMT - ECB President Mario Draghi Speaks in Frankfurt

Tuesday, 14th of March:

02:00 am GMT - Industrial Production from China

10:00 am GMT - ZEW Economic Sentiment from Germany

12:30 pm GMT - Producer Price Index from the U.S.

Wednesday, 15th of March:

06:00 pm GMT - FOMC Interest Rate decision

Thursday, 16th of March:

01:30 am GMT - Unemployment Rate from Australia

03:00 am GMT - Bank of Japan Interest Rate decision

06:30 am GMT - Bank of Japan Press Conference

09:30 am GMT - Swiss National Bank Interest Rate decision

12:30 pm GMT - Bank of England Interest Rate decision

01:30 pm GMT - Initial Jobless Claims from the U.S.

Friday, 17th of March:

03:00 pm GMT - Michigan Consumer Sentiment Index from the U.S.

Let's now take a look at the U.S. Dollar index technical picture in the H4 time frame. After making another higher high at the level of 102.27, the index deteriorated below the golden trend line and currently is trading at the technical support at the level of 101.29. The most important zone is the gray rectangle area between the levels of 100.66 - 100.89. Any break out below this zone will likely terminate the higher high and higer low sequence and the bears will be in control over this market again.