Global macro overview for 23/12/2016:
The German Gfk Consumer Climate data was released today and it was just slightly better than market participants expected. The Gfk index was at the level of 9.9 points, while the expectations were 9.8 points, unchanged from last month number. Importantly, this data was collected before the recent terrosrist attack in Berlin, so the next survey might be more pessimistic than this one is.
Let's now take a look at the EUR/USD techncial picture on the 4H time frame. The market is traidng quietly in pre-Christmas mood, so the Gfk data release did not really make any substantial change. The technical support is seen at the level of 1.0352 and the next techncial resistnace lies at 1.0500.
