Forex news.
Yesterday in the course of China Development Forum in Beijing Managing Director of International Monetary Fund Christine Lagarde gave a speech to top representatives of Chinese business and politics. Having mentioned decisive actions of the European Union, directed at overcoming crisis in euro zone, highlighting evidently positive changes of US macroeconomic factors, the Head of IMF appealed to be under no illusion about world economy quitting "the danger zone".
According to Christine Lagarde, "thunderclouds" have only started to break; therefore, we all are "to keep our eyes open". Having highlighted the role of developing economies in quitting global crisis, Lagarde added, "I don’t dare to think how serious global economic situation may have been if it hadn’t been for China, which is a real "locomotive" of growth."
The permanent issue of monetary regulation was neither left aside. However, Christine Lagarde was rather diplomatic about it, having considered it in the light of Chinese yuan becoming the reserve currency of IMF.
At FOREX market EURUSD currency pair keeps forming a rising wave "С" of Н1 level, following a hidden wave "В". Presumably, 4th sub-wave is currently being formed as a part of it; the price is expected to keep rising when it is over. According to the System of Early Prediction Sub-department of Masterforex-V Trading Academy, targets at the top may include points 1.3199 and 1.3296, as well as Sloping Axis of upper timeframe.
