The 2017 GDP forecast for the European Union is reported to have been increased by the Euro Commission from 1,6% up to 1,7%. This means that the economic growth in 28 EU countries, according to the general estimate, is likely to reach 1,9%. The Euro Commission has reported about economic growth for the 5th year in a row. They expect the tendency to remain this and next year as well. The unemployment rate is expected to shrink all the way down to 9,4% this year.
At the same time French President-Elect Macron offers several initiatives related to tax capacity, Europe’s common budget for higher investments and security against unemployment, the post of the Eurozone’s finance minister, and so much more. All of them are said to be aimed at improving the integrity of the Eurozone as well as backing higher employment and stronger economic growth. International experts are convinced that these initiatives are going to face confrontation over time.
Moreover, the revised forecast by the European Commission says that the economic growth in Greece is likely to slow down to 2,1% this year.
Forex
In the meantime, the SRP (AO_Zotik and WPR_VSmark) Department of Masterforex-V Academy has conducted in-depth analysis of the current situation in the market of EURUSD. They say that the next target of the bullish ABC pattern of level Daily may well be the level of 1,1064.
