Global macro overview for 08/01/2016:
The main fundamental event of this week, the NFP figures from the US job market, are scheduled for release today at 01:30 GMT. Markets expect another bunch of strong reports for December with 202K jobs created, earnings growing by 0.2% and unemployment remaining at 5%. If the data coincides with the consensus or even better than the expectations, then the Federal Reserve might take into account another gradual rake hike as soon as March 2016. The data release will be closely watched by market participants.
Meanwhile, the EUR/USD pair has bounced off the 61% Fibo support and hit the resistance at the level of 1.0933. Currently, the pair is trading in the middle of the daily range awaiting the NFP data release.
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