Global macro overview for 14/12/2015:
The most anticipated fundamental event, the Fed's interest rate decision, will take place this week. On the other hand, last night's data regarding Japan's Tankan Manufacturing index was better than expected (25 vs. 23 expected and 12 vs. 11 expected) against the disappointing outlook. In particular, the weak manufacturer outlook suggested a fall to -4 from -2, which is a surprising signal about widespread pessimism from businesses. This might be the first reason behind the BOJ's decision to broaden easing measures in Q1 2016.
The USD/JPY pair is trading in the middle of a range between the levels of 120.02 and 122.24, still above the long-term golden trend line.
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