Global macro overview for 23/11/2016:
The durable good orders report from the US is scheduled for release at 01:30GMT today. Market participants anticipate a nice increase after a modest dip last month. The increase for this month is expected to hit 1.2% m/m because of the fact, that recently the US manufacturing sector has been showing signs of strengthening according to the FED. Data for the last month indicate, that manufacturing component increased moderately for the second month in a row and the outlook is getting better slowly. In conclusion, today's release should offer another round of supporting evidence.
Let's now take a look at the US Dollar Index technical picture in the daily time frame. The market is still trading at the new local highs, above the old swing high at the level of 100.48. The bulls are in full control over this market and might be waiting for a fundamental catalyst to test the next resistance at the level of 101.49.
