Global macro overview for 06/01/2016:
A bunch of PMI Services data from the main eurozone countries has been released this morning and in general the data beat the market expectations. The overall EU PMI composite index was better than expected (54.0 points vs. 54.0 points forecasted) and still shows a positive tendency to rise above the 50-point level. There are still no signs of fast acceleration on the horizon, but for the moment there are convincing clues that a moderate expansion is still a viable forecast. The eurozone is gradually repairing the damage that lingers from the financial crisis.
The EUR/USD pair is trading right on the 61%Fibo support at the level of 1.0722. The next support is seen at the level of 1.0691 and the next resistance is seen at the level of 1.0795.
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