Global macro overview for 11/01/2016:
The last Friday NFP data beat the forecasts as the US economy created 292,000 jobs in December against 200,000 expected. Moreover, the US Labor Department revised the data on two previous months, and it turned out the economy added 50,000 more jobs than previously reported. Please notice that the US job market has been reporting strong jobs data in the last months, with 252,000 in November and 307,000 in October. The job market is clearly showing an improvement and next gradual rate hikes by the Fed might start as soon as March 2016.
Despite the strong labor data, the US Dollar index failed to rally for now as it is still trading inside the range between the levels of 97.18 and 99.98.
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