Global macro overview for 21/12/2015:
The overnight data from New Zealand revealed the businesses confidence was reported at the highest level since April. The ANZ Business Confidence Index increased from 14.0 to 23.0 beating analysts' expectations. A possible trigger for such optimistic data may lie in the recent GDP reading for the third quarter. According to the data report, the GDP rose to 0.9%, outperforming expectations of a 0.8% expansion. Moreover, the Reserve Bank of New Zealand cut the official rate from 2.75% to 2.5% earlier this month to boost the national economy. This is a quite optimistic end of 2015 for the New Zealand.
The NZD/USD pair is trading inside of the rising blue channel, but still below the important resistance at the level of 0.6837. The next important daily support is seen at the level of 0.6429.
