“The global economy is improving but risks remain”. Insert your favorite finance minister/central bankers name at the end of that statement and you won’t likely go wrong. The latest to make the utterance is an unnamed Canadian official. Implementing previous summit agreements is important, the official said, as there have been G7, G8, G20 meeting galore in the last year and volumes of 48-point communiques produced…
EUR/USD is consolidating its rebound, now at 1.3960. US equities have cut their losses but oil is showing few signs of strength, down $2.60, just above $64.00.
UPDATE: The Canadian official does not see any mention of reserve currencies in the G8 communique of mention by G8 leaders.
