Global macro overview for 23/10/2015:
Yesterday’s US labor data looked sharp when unemployment claims beat analysts’ expectation with 259K versus 267K expected. Moreover, figures were slightly higher than 255K reported last month. This data points to a quite strong labor market in the US, but the real test will come in early November when the NFP number is released.
The SPX index (SP500 ETF) has managed to climb over the technical resistance at the level of 203.84 and is currently trading inside the bullish zone. The next important resistance is seen at 213.78 ( all time highs).
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