Global macro overview for 14/08/2015:
The important data from the US for all the inflation observers is due to be released at 12:30 GMT today. The PPI (Producer Price Index) for July is expected to be at the levels of 0.1% m/m and -0.9% y/y and this forecast is lower than the prior month’s release that was at the levels of 0.4% m/m and -0.7% y/y. Any reading in line or even lower expectations might be the first sign of rising inflationary concerns about the Fed inflation target of 2% before any rate hike.
The USD/JPY pair might shoot up if the data is better than expected and break out above the important resistance at the level of 125.84.
The material has been provided by InstaForex Company – www.instaforex.com