FX.co ★ Global macro overview for 22/12/2015

Global macro overview for 22/12/2015:

In yesterday's Monthly Reports released by Bundesbank, the European Central Bank member and Bundesbank President Jens Weidmann pointed out that a possible economic recovery in the eurozone might increase next year, but it still might not be enough to lower notably the unemployment. Moreover, he remainded that the eurozone countries should further consolidate their budgets given their high debt levels which is becoming high to manage. Nevertheless, the eurozone main challenge will be to ensure prosperity and security as the levels of real GDP in the beginning of 2016, that will barely return to growth rates of early 2008.

The EUR/USD pair is trading quietly in the middle of the range after a failure to break out above the technical resistance at the level of 1.0923.