16.12.201511:45 Forex Analysis & Reviews: Global macro overview for 16/12/2015

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Global macro overview for 16/12/2015:

The recent news from the UK labor market has just been released at 09:30 am GMT. The UK employment rate were at 73.9% in August - October period, the highest since records began in 1971, and the unemployment rate was at 5.2% against the forecast of 5.3%. The November claimant count rate rose by 2.3% (as expected) and weekly earnings excluding bonus were at 2.0% against +2.3%, which analysts had expected. It looks like weaker wages data being tempered by better jobs release. Please notice that unemployment is at the lowest level since before the financial crisis and wages are at levels about half of where they were before the crisis (still maintaining an upward trend tough).

The GDP/USD pair did not react sharply to the data release and currently is still trying to find the bottom after breaking below the golden trend line. The next support is seen at the level of 1.4957 and next resistance is seen at the level of 1.0565.

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