Not so long ago Dominique Strauss-Kahn had to resign. Since then the post of the managing Director of the IMF has been vacant.
Today, on May 23
rd, the official nomination campaign will be started. Probably the candidate with outstanding professional skills will be elected. In Particular, Rene Weber, the IMF’s CEO, said that Switzerland’s main criterion for supporting a candidate was his/her ability to maintain the stability of currencies and financial relations.
Christine Lagarde, which is the current Minister of Economic Affairs, Finances and Industry of France, is one of the front runners. Germany, Italy and a range of other EU countries have already expressed support for electing her as the IMF’s Chief. The UK also joined the army of her supporters. George Osborne, Chancellor of the Exchequer, assumes that she is the best candidate for this post.
FOREX. On Friday EURUD retraced against the bullish correctional movement on H4. The retracement can turn out to be either the end of the correction and the continuation of the mid-term downtrend or the formation of a hidden wave (wave B) in the mid-term ABC pattern of H4.
According to the AFS Sub-department under the Department of studying Masterforex-V TS , in the second case the momentum structure will be ruined.
To define the vector of the forthcoming movement we apply the ASF elements and other binary patterns by MF.
