Global macro overview for 11/12/2015:
Today, the US releases a host of key reports, including retail sales and CPI data. The market participants expect a small increase in retail sales up to the level of 0.2% from 0.1% a month before. The situation is the same with CPI, where market participants expect the numbers to slightly beat the previous month reading of 0.2% up to the level of 0.3%. If the numbers beat the forecast, it would mean the inflation in the US starts to slowly pick up and it would support the Fed's decision on the short-term interest rates next week.
The EUR/USD pair is still trading in the daily range ahead of the news release. The next support is seen at the level of 1.0923 and next resistance is seen at the level of 1.0980.
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