Will up GDP estimate...
IMF's Christine Lagarde is on the wires with some bullish comments about the Euro area
- IMF to revise upward Euro area growth forecast
- Euro area recovery is gaining strength and is broad based.
- More on Greece: I will propose to exec board an approval in principle of a precautionary standby arrangement for Greece. The amount would be below $2B
- Wants to complete bailout process before July 27th
The EURUSD is trading at 1.1156 and is trading above the 100 bar MA on the 5-minute chart now. A move above the 1.1161/71 is eyed for a more bullish technical bias.
