Global macro overview for 09/11/2015:
The sentix Economic Index for the euro area continues rising, gaining 3.4 points to 15.1 points in November. The previous reading of 11.7 points was easily beaten as the eurozone’s recovery is back on track, especially in Germany and Switzerland while Austria lags behind a little. A reason for rising economic expectations is gaining confidence in Asian markets as the Chinese administration has been successful in restoring confidence in the potential of the Chinese economy.
The rising confidence in global recovery and Friday’s NFP data was the main reason for the US Dollar index’ bullish breakout. Currently, the support is seen at the level of 98.34 and resistance is seen at the level of 99.98.
The material has been provided by InstaForex Company – www.instaforex.com