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Global macro overview for 27/09/2016

Global macro overview for 27/09/2016:

The mass media are still reporting the echoes of yesterday's first presidential debate in the US. Hillary Clinton and Donald Trump did not present a compelling vision to break with the stagnation of the world's largest economy. Nevertheless, one thing is certain: he wants to lower taxes, she intends to pick them up. From our point of view, debates got more interesting only around the 30th minute when Donald Trump launched a frontal attack on the policy of the Federal Reserve. "The Fed does not perform his job (...) the Fed is more politicized than Senator Clinton," the Republican candidate said. "We have a bubble in the stock market, which burst when the Fed will raise rates," he added. All in all, the debate was quite boring, predictable and quite disappointing. Candidates played a role written out by consultants. Perhaps the biggest surprise is that Senator Clinton seemed to be more genuine. Hillary was smiling; she was laid-back and confident. She spoke calmly and with conviction, even if the words didn't not have much sense.Trump was stiff and seemed self-righteous. He tried to break through with a simple message, but perhaps lost the thread too often, which did not increase his power of persuasion. This time, he was nothing like a brilliant speaker and charismatic leader he has been in recent months. The second presidential debate is scheduled for 9th October 2016.

Let's now take a look at the US dollar technical picture after the presidential debate. The bull camp is still too weak to break above the technical resistance at 96.27, and currently the price has just got back to the range again, so sideways market continues. The next immediate support is seen at the level of 95.05.

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