Global macro overview for 08/08/2016:
The NFP Payrolls data were published last Friday and the results positively surprised the market participants. The US non-farm sector created more jobs than expected last month (255k vs. 180k expected) and the unemployment rate remained unchanged at the level of 4.8%. Moreover, the preceding month's figure was revised up to 292,000 from the originally reported reading of 287,000. In conclusion, very good data from US job market might again increase the speculation about a possible interest rate hike in September meeting.
Let's now take a look at the US Dollar index technical picture at the daily time frame. The bulls have managed to bounce from the level of 95.00 and now the market is trading around the middle of the trading range. The next resistance is seen at the level of 96.52 and the next support is seen at the level of 95.32.
