Global macro overview for 28/12/2015:
The last week's data from the US job market was slightly better than analysts had expected as the number of Americans applying for unemployment benefits declined 5,000 people to a seasonally adjusted 267,000 in the week ended December 19. This low level of unemployed US citizens was last seen in 1973, so it is a very good sign that the US labor market continues to strengthen. Please remember that the initial claims number below 300 000 is associated with strong labor market conditions and this kind of situation helps to boost consumer spending, This might be very important amid current economic conditions as the US is now facing headwinds from the strong US dollar and slowing global economic growth.
The US dollar index has been rejected after hitting 61% Fibo level of the previous sell-off range. Currently, it is trading slightly below 21 and 50 periods moving average, just above the technical support at the level of 97.18.
