Global macro overview for 06/07/2015 – ISM data release
The high-impact news release for Monday is mainly the US ISM non-manufacturing data scheduled to be released at 16:00 (GMT+2). The previous reading for May (55.7) was slightly worse than expected, but it is still above the fifty level. For the month of June, the market is expecting a better number of 56.5. In case the data is in line with expectations or even better (above 57), the situation on USD/JPY might get even more bullish than it is now. The market might try to break out above the golden trendline and head higher towards the level of 124.00.
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