Global macro overview for 05/11/2015:
In her first public comments since the Fed's meeting last week, Federal Reserve Chair Janet Yellen said on Wednesday that a possible interest rate "liftoff" could be declared in December. Nevertheless, the overall path of the pending interest rates hike will be slow and steady without any sudden moves. The Fed policy towards the potential rates hike is still very data depended and the key areas the policy makers are watching are unemployment, economic growth, and inflation levels. After this remarks, market participants have set their expectations of a December rates hike above 60 percent again.
The US Dollar index is currently trading just ahead of the important resistance at the level of 98.32 well above the 55, 100 and 200 days moving average.
