Global macro overview for 16/09/2015:
The highly anticipated two-day Fed’s meeting is set for today. Investors from all over the world will focus on tomorrows highly anticipated Federal Reserve’s announcement regarding its short-term interest rate decision. Nevertheless, there are some important data scheduled for release at 8:30 am GMT in UK. The most interesting would be the wage growth. The average earning including bonuses are expected to post a 2.5% rise on ta hree-month basis, a slight increase from its prior reading of 2.4%. If this trend continues, the BoE might rise the interest rates sooner than most of the market participants thinks, and that would be as soon as the beginning of the next year.
The technical picture for GBP/USD ahead of the important news release is rather clear: after a failure to break out above the level of 1.5475, the price reversed and is currently testing the main support at the level of 1.5329.
The material has been provided by InstaForex Company – www.instaforex.com