Global macro overview for 30/12/2015:
Encouraging data has been delivered this morning from Spain as retail sales increased for the 16th consecutive month in November amid a fall in unemployment and an improved macroeconomic landscape. According to the National Statistics Institute, the Spanish retail sales rose by 3.3% this month, following an upwardly revised advance of 6.0% last month. The gain was mainly driven by an increase in sales of household equipment which gained 4.7%, personal equipment increased by 3.6%, and retail hiring gained 1.8% (the fastest pace since Spain entered a deep recession in 2008). On the other hand, food sales declined by 0.2% on an annual basis. In overall, the better-than-expected data should be taken into account by the ECB, because it is willing to provide more support only in the light of sluggish economic recovery and low inflation . So far the data suggest the recovery in Spain continues.
The EUR/USD pair is trading slowly inside a narrow range. The next support is seen at the level of 1.0795 and next resistance is seen at the level of 1.1012.
For detail explanation and best discovery on daily market trends and news you may visit via Global macro overview for 30/12/2015 . Thanks for your support.
No comments:
Post a Comment