Global macro overview for 16/09/2015:
LTonight, market participants will be treated with another news from New Zealand regarding their GDP in the second quarter. The market expects a rather massive increase to the level of 0.6% form 0.2% in the last quarter and 2.6% y/y. The GDP is one of the most important measure of the overall economic well-being. Nevertheless, the economic expansion, indicated by growing GDP, raises concerns about inflationary pressure.
The NZD/USD pair trapped in a tight congestion zone between the levels of 0.6242 and 0.6474 as the market awaits the Fed’s meeting results. Please notice that any breakout above the resistance at the level of 0.6474 would be bullish and even the next important technical resistance at the level of 0.6708 might be tested then.
The material has been provided by InstaForex Company – www.instaforex.com