Euro Reacts to IMF
By: Jeff RatajczakJune 9th, 2011 10:30AM CDT
The daily chart on the right is the same chart as last posting. A little bigger right shoulder than I expected. Same over riding fundamentals apply, concern over European debt. I still believe that we will see a slide to 1.4100 or below. The IMF said the 26 billion Euro loan to Portugal "entails important risk"
Bloomberg says:
Greece's debt, already the biggest in the Euro's history at 143 percent of gross domestic product last year, will jump to almost 158 percent this year and 166 percent in 2012, the European Commission said today in Brussels. Portuguese debt will surpass total economic output for the first time this year, growing to 101.7 percent of GDP, while Irish debt will reach 112 percent, the forecasts show.
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Jeff Ratajczak
Commodities Broker
Jeff Ratajczak began his financial career in the stock market as a retail broker in 1993. He transitioned to futures in 1999 with LFG Intermarket Group, which became ZAP Futures. ZAP Futures was acquired by RJO Futures' parent company R.J. O'Brien in 2004. At present, Jeff works with RJO's extensive IB network to take care of their FX needs. Jeff's focus is to assist clients in managing risk and speculate through futures and option strategies. Jeff attended Illinois State University..... Read More
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