Global macro overview for 15/12/2015:

he UK inflation data has been released this morning widely disappointing the market. The consumer price index edged higher to the level of 0.1% versus 0.0% a month ago, but the produce index components were all worse than expected. The PPI input lowered to -1.6% versus -1.0% a month ago, and the PPI output came in at -0.2% versus 0.0% a month ago. The inflation then appears to stubbornly stay at lower levels and the BoE targeted level of 2% seems to be far away.

The GBP/USD pair is training inside a tight range ahead of the major market news release from the US on Wednesday. The support level is seen at 1.5107 and resistance is seen at the level of 1.5198.