- Slower growth ahead, but growth to continue
- Do not expect major problems coming out of stress test
- All advanced economies are in difficult situation; must consolidate fiscally
- IMF has not caught up with reality–underestimates euro zone recovery
The ECB gab-fest continues with the chief economist weighing in. I love the shot at the IMF…
EUR/USD is at session lows after failing to sustain the break above downtrend resistance. Small stops lie below 1.2650 near-term. EUR/USD trades at 1.2658.