15.01.201612:09 Forex Analysis & Reviews: Global macro overview for 15/01/2016

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Global macro overview for 15/01/2016:

There is a bunch of important data from the US to be released at 02:55 GMT today. One of the most anticipated is Michigan Consumer Expectations for the month of January. The consumer sentiment index in January is expected to improve to the level of 92.2 from 91.8 in December, which is the first positive data for 2016. The recent upbeat NFP number (4th month in a row) and cheap gasoline ( and crude oil) might greatly contribute to even more upbeat reading. Nevertheless, previous cycle highs of the sentiment are still far away, so there is much room to go.

The SPY (SP500 EFT) is falling towards the bulls last resort demand zone. The next resistance is seen at the level of 194.89 and next support is seen at the level of 186.95.

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