Global macro overview for 15/12/2015:

The ZEW Economic sentiment data for Germany was released this morning beating the expectations. The economic sentiment index slightly improved to the level of 16.1 from 15.2 last month and the current situation assessment sub-index improved to the level of 55.0 as well from 54.2 a month ago. ZEW institute head Clemens Fuest commented that the slowdown in emerging markets exerting pressure on German exports and large influx of refugees is a challenge above all. Nevertheless, everything looks good enough to the ZEW survey respondents.

The EUR/USD pair is trading slowly in a tight range ahead of the important US news release tomorrow. The resistance is seen at the level of 1.1059 and next support is seen at the level of 1.0923.