The G20 finance ministers and central bank governors met in Mexico during the weekend to discuss ways of further economic cooperation. The eurozone debt crisis made them think about allocating extra funds for the IMF.
According to Christine Lagarde, Managing Director of the IMF, “the G20 countries must now strengthen resilience to further shocks that could result from the still-fragile financial systems, high public and private debt, and higher world prices. Of equal concern is unemployment, which is still too high in many countries… We have suggested an increase in IMF lending capacity of $500 billion, which would be combined with an equally credible, high-quality and properly-sized firewall at the European level.”
EURUSD has formed a downward RP workout of H1. A break below it will complete wave CH1. According to the SRP Department of , until then, the mid-term uptrend be continued. The potential target is 1.3526.
