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Global macro overview for 17/09/2015

Global macro overview for 17/09/2015

The day that financial market participants awaited for months is finally here and all eyes are fixed on the Fed's interest rate decision and press conference later tonight. The main question remains whether the Fed will decide to start raising the short-term rates this month or wait until December 2015. Moreover, the next most important thing for traders and investors seems to be Fed's rhetoric about the inflation and inflationary pressure, mostly due to the 2% inflation gauge that the Fed had set months ago. So far, the data from the US economy do show a stable and constant improvement in the labor market, however the core personal consumption, expenditure price index, and manufacturing price indeces are still relatively underperforming and remain stubborn low.

The SPX (S&P500 ETF) has entered a neutral zone again and is currently trading above the level of 197.80. It looks like the market might test the golden trend line before making the decision whether to breakout towards new highs or reverse back to the bearish zone (depending on the Fed's news).

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