Global macro analysis for 23/06/2016:
Weekly jobless claims data from the US labor market have been published and it was better than expected. The number of Americans filing for unemployment benefits last week dropped by 18,000 to 259,000 in the period ended June 18. It was the biggest decrease since the first week of February. The median forecast in a Bloomberg survey called for a decline to 270,000. Moreover, the number of people continuing to receive jobless benefits decreased by 20,000 to 2.14 million in the week ended June 11. The unemployment rate among people eligible for benefits was held at 1.6 percent. In conclusion, another evidence has been presented that the labor market is healthy and stable.
Let us take a look at the US Dollar index technical picture on the daily time frame. Bears have managed to break out below the important support at the level of 93.42. The next support is seen at the level of 91.92. If this support is broken, then bears are in full control over this market.
