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Global macro overview for 20/11/2015

Global macro overview for 20/11/2015:

Yesterdays report released the number of initial jobless claims in the US, which continued to hover near the lowest level in the fourth decades. Initial claims dropped by 5,000 to a seasonally adjusted 271,000 , while market participants expected a number of 272,000. Claims remained below the level of 300,000 for the 37th straight week, the longest stretch in years. Another good US employment data (after the mind blowing NFP figures last Friday) has shown enough signs of resilience to allow the data-dependent Fed's policy makers to seriously consider raising rates for the first time in almost a decade very. According to the Fed Funds futures, a December rate hike is now 72% priced in.

After the bullish breakout above the golden channel line, the US dollar index did not manage to violate the technical resistance at the level of 99.98, but it is still trading above the critical support at the level of 98.34.

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