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Global macro overview for 23/09/2016

Global macro overview for 23/09/2016:

The Vice-President of the European Central Bank, Vitor Constancio, said today at conference session entitled “Low interest rates and the implications for financial stability” at 06:45 GMT in Frankfurt, that a FED interest rate hike in December 2016 would show that it’s possible to normalise inflation with time and prove that monetary policy could do it. The reason for a possible FED interest rate hike is the end of the presidential campaign in the USA and a possibility establishing a good relationship with the new president. Moreover, more clues could be concluded from today’s speeches from Federal Reserve presidents. These will be the first speeches after the Fed’s recent meeting, and any hints on whether the rate hike will be coming in December would be appreciated by investors.

Let’s now take a look at the US Dollar index after the FED interest rate decision at the daily time frame. After the initial spike up the index reversed and now it is trading in the middle of the congestion zone. The golden trend line is still providing the support, but any of the important levels was violated. The next resistance is seen at the level of 96.27 and 96.52. The next support is seen at the level of 95.05.

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The material has been provided by InstaForex Company – www.instaforex.com

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Global macro overview for 23/09/2016 Reviewed by on . Global macro overview for 23/09/2016:The Vice-President of the European Central Bank, Vitor Constancio, said today at conference session entitled "Low interest Global macro overview for 23/09/2016:The Vice-President of the European Central Bank, Vitor Constancio, said today at conference session entitled "Low interest Rating:
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