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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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Sir Ignore
United States
Posts: 3068
13 years ago
Oct 31, 2011 6:55
L E/$ 4020
adding to usd/chf short 8888
jacek
Melbourne, Australia
Posts: 2579
13 years ago
Oct 31, 2011 3:33
that's interesting that they waitad for HK open.. is china behind this move too?..
Dodger
London, UK
Posts: 139
13 years ago
Oct 31, 2011 1:51
Very heavy japanese intervention just after HK open,risk up in yen crosses but dollar stronger against euro and sterling.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Oct 30, 2011 21:45
A plausible explanation for market melt-up
http://www.johnmauldin.com/frontlinethoughts/european-summit-a-plan-with-no-details
cat0nip
Frankfurt, Germany
Posts: 1632
13 years ago
Oct 30, 2011 21:05
China's Hu Jintao reportedly rejected China is going to support the leveraged EFSF buying
SIPV ( special investment purpose verhicles - to avoid "Eurobonds") . What does it mean?
I think it means EFSF is still 1.3 trn but without leverage . 100% margin , that is. Or is it a margin call?
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Oct 30, 2011 19:45
Yep, I have been reading nothing but bad press on the summit "plans", and lots of it. I don't think I have come across a single positive piece. Mkt irrationality will turn to rationality and I for one shall be ready on the trigger.
cat0nip
Frankfurt, Germany
Posts: 1632
13 years ago
Oct 30, 2011 19:32
With the Italy 10 y bond auction going bad - 6.06% yield is the highest since introduction of Euro- imo the leverage idea IS doomed.
Take this Thursday big summit announcement friday Italy bond auction at 6.06%...hum.
It is not even a done deal that the haircut is accepted. Today genius of finance Schauble warned in an interview with Der Spiegel banks must accept haircut on voluntary basis otherwise... what otherwise? Otherwise CDS are triggered. However not only banks are bondholders , also insurance ( life) and pension funds. he didn't even ask these Greece bond holders. Neither central banks. Not Saudi Arabia.
That idea was silly not thoroughly thought.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Oct 30, 2011 19:25
AL could launch a vote for this one.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Oct 30, 2011 19:19
They certainly need to be focusing on growth lest the idea of leverage be doomed. I think the idea of any growth is also doomed but at least create an illusion of validity. That is the least they can do but the path of destiny for ezone is already written in the sand and its not a pretty picture.

50 bsp cut, nothing less.
cat0nip
Frankfurt, Germany
Posts: 1632
13 years ago
Oct 30, 2011 18:38
Not quite agree....Draghi reportedly got the nick super Mario after his swap deal with Greece which made Greece look healthy. of course Draghi has denied he was responsible but has not denied Goldman did it when he was with GS. I think it could be important to know the FSF ( later with G20 FSB ) targets and actions . The G7 FSF was founded to coordinate actions of governments and central banks and to identify system relevant big banks globally.
It is not a done deal ECB cuts the funds rate. A 25bps cut would lead to speculations of the begin of a series of cuts. Certainly gold positive and not good for EUR. In contrast to Ashraf I think a hard 50 bp cut would be regarded as a one time action and positive for EUR.
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