Global macro overview for 01/04/2016:
The most anticipated economic event of the week has finally arrived and at 01:30 GMT the Non-Farm Employment Change (NFP) figures will be released. The market expects a slight decline in the level of created jobs: from 242K a month before down to 206K. The unemployment rate is expected to stay at the same level of 4,9% and average hourly earning is expected to rise to the level of 0.2% from -0.1% in the prior month. In conclusion, all market participants will keep an eye on this rapport as expectations are high and data depended Fed might adjust the current monetary policy, ( i.e. rate hike) if the numbers beat their expectations.
Let's now take a look at the technical picture of the US Dollar index in the daily time frame. After the failure at the level of 96.41 bears are in full control over this market and currently the first technical support at the level of 94.57 is being tested. Please notice, the price is trading below the 21,50 and 100 daily moving average, but still there is a chance for a bullish trend resumption if the level of 92.59 is not violated.
