Global macro overview for 23/12/2015:
The US news released yesterday were a mixed bag of data. The US GDP has posted a solid gain which was better than expected (2.0% vs. 1.9% expected). Existing Houses Sales disappointed (4.76M vs. 5.32M expected), while the Richmond Manufacturing Index beat expectations (6 points vs. -1 points expected). So far the overall economic situation in the US does not look bad as almost all the economic indicators report a slow, but steady improvement.
The prices of gold, after taking a hit in the aftermath of the Federal Reserves rate hike when it briefly dropped below the $1050 level ( lowest level since February 2010), rallied more than 2% and for now are trading steadily in the congestion zone between the levels of 1046 and 1088.
