Global macro overview for 14/10/2015:
The American consumers saved more in September mainly due to the lower fuel cost as retail sales declined by 0.1%; and core retails sales, by 0.3% in the third quarter. Such sluggish results might be quite important for the future of the US economy. Moreover, overseas, the situation is quite similar as the latest data from China suggests a further decrease in demand. The Fed policy makers are still uncertain if they should raise the interest rate any time soon.
The EUR/USD pair is trading ahead of the technical resistance at the level of 1.1460. The support is seen at the level of 1.1318.
