MORE CRISIS AHEAD – Argentina Treasury minister resigns, says ‘significant renewal’ needed amid economic crisis
Argentina´s Treasury Minister Nicolas Dujovne has resigned, saying in a letter seen by Reuters on Saturday he believed the government needed “significant renewal” in its economic team amid a crisis which saw the peso plunge this week.
Dujovne said in a letter to Argentine President Mauricio Macri that he had given his “all” to the job, helped tame a significant deficit and trim public spending.
“We have made mistakes as well, without a doubt, we never hesitate to recognize that and did all that was possible to correct them,” he added. WILL THIS TRIGGER RIPPLES ACROSS THE WORLD
OTHER NEWS MIGHT DRAG THE EURO
The German economy contracted and may be entering a recession. Chinese industrial production growth grew at the slowest since 2002. And US yields have inverted – scaring investors of a recession in the world´s largest economy. Fears in the Financial Market have started; Asia will also be affected as Hong Kong protesters continue to fight what they want…
WHAT IS THE EURUSD TECHNICAL CHART IS SAYING? – DAILY & WEEKLY CHARTS.
- German is the biggest contributor to EURO-ZONE – if they fall the EURO will tandem the fall
- UK will get out of EURO-ZONE by end October with or without BREXIT deal
- The other european unions members are also feeling the friction of slow growth and unemployment rate at all time high.
- EURUSD is staring at 1.09 – 1.08 – if it breaks – then 1.03 is on sight.
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