Photo: EURUSD: New World Forum and Euro
Jean-Paul Fitoussi, a French economist and professor emeritus, has started the New World Forum in Paris. The forum has gathered the world’s financial and political elite. The major goal of the forum is to work out the ways and means of overcoming the current economic and financial crisis and to determine the near-term development prospects for Europe.
At this point, there is no positive outcome of the existing anti-crisis measures. Mr. Fitoussi says that consumers have to save on everything, even on essential goods. Therefore, construction and motor industries are in decline.
Francois Hollande, President of France, is also for reconsidering priorities in order to restore the competitiveness of European products and services as well as to initiate economic growth in the region.
The IMF has backed the idea of reforming the eurozone’s financial regulation.
Forex.
The chart below, courtesy of the SRP Department of , reflects the current state of affairs in the market of EURUSD. The currency pair is consolidating after a sharp downswing. We will probably see another downswing (as shown below):
Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
