FX.co ★ Global macro overview for 04/12/2015

Global macro overview for 04/12/2015:

The Non Farm Payrolls release is scheduled for 1:30 pm GMT today . Market participants expect quite nice improvement in number of jobs created: 271 K is expected versus 201 K month before. Moreover, the average hourly earnings are forecasted to rise from 0.2% to 0.4%. The unemployment rate should stay unchanged at the level of 5.0%. Please notice this jobs report is the last one before the Federal Reserves opportunity to raise rates on December 16. If the numbers come in in line or better then expected, the Fed will have green light to raise the short-term interest rates at its next meeting.

The US dollar index declined yesterday to the support level of 98.34 and broke slightly below it. The next support is seen at the level of 97.82.