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

EUR

Discuss EUR in this thread
 
Stationdealer
London, UK
Posts: 715
14 years ago
Jun 2, 2010 16:35
What Have You Done For Me Lately?

Mr. Market needs to be feed and he has not gotten anything tasty from the EU or IMF for weeks.
Lately it has been all bad news, with the Spanish banking crisis intensifying, intramural battles withing the ECB raging and Germany losing its preeminent position as the undisputed first among equals in the euro zone.

All of that is reflected in the renewed nervousness among investors, who are demanding higher yields to buy government debt (despite the ECBs steady purchases).

Spanish spreads over the German benchmark are within 20 bp of their highest levels despite a trillion pledge to sure up the euro zone and billions in ECB bond buying

Not a good sign for the euro. Shock and awe, it aint. Maybe Spanish banks are going through a stress test right now.
Stationdealer
London, UK
Posts: 715
14 years ago
Jun 2, 2010 16:27
or that Iranians are really stupid :D
ray
New York, United States
Posted Anonymously
14 years ago
Jun 2, 2010 16:05
just to recall , last year the Iranians were selling dollars right at the bottom, now they are selling euros at the bottom? could be a counter signal for a huge trade....
catnip
Frankfurt, Germany
Posted Anonymously
14 years ago
Jun 2, 2010 15:37
Certainly but you know all those local national princelings... a Economic Government or better
a eurozone common treasury had had to be installed with the introduction of the common currency... I wouldn't mind a central government with local governors
small is beautiful
but it won't happen the eurozone will disintegrate same as the Eastern Roman Empire disappeared under the load of its administration.
In multiprocessor computers we had the phenomenon of trashing a job cannot be assigned to a CPU and is trashed from stack to stack...in a round robin discipline... that is how eurozone administration works.
Stationdealer
London, UK
Posts: 715
14 years ago
Jun 2, 2010 15:09
Van Rumpuy Calls For Euro Zone Economic Government

As well, he wants to strengthen economic governance by the EU summit on June 17.
Like it or not, the recent bailouts have been an important step toward a centralized EU economic structure that could serve the group well int he years ahead, if national interests are set aside for the good of the whole. A huge IF

EUR/USD trades at 1.2198
djellal
LAUSANNE, Switzerland
Posts: 531
14 years ago
Jun 2, 2010 13:01
For UBS wcup winner will be Brasil
djellal
LAUSANNE, Switzerland
Posts: 531
14 years ago
Jun 2, 2010 11:19
As said to me my colleague there is a good level 50 % of fibonacci (monthly chart)around 1.21 and moving average 200 under 1.20. Numerous orders must be placed in these levels
Stationdealer
London, UK
Posts: 715
14 years ago
Jun 2, 2010 8:47
IMF Calls Document Promoting Latvia Currency Devaluation A Forgery

(WTF how can some one get this wrong)

The Eastern European country that has suffered a 26% GDP loss in the past two years was the butt of a cruel joke this morning.

Latvian news agency LETA published a letter from IMF Managing Director Dominique Struass-Kahn supporting a "mini-devaluation" of the lat. Latvia has kept its currency pegged to the euro despite crippling debt because of plans to join the EU.

Turns out the letter from Strauss-Kahn was a forgery!
From the IMF (via FT Alphaville)http://blogs.ft.com/money-supply/2010/06/01/forgeries-and-the-lat/

Regarding this mornings LETA story, which referred to a purported letter from the IMF Managing Director: the letter mentioned is false and we advised LETA that it was forged. It does not represent the views of the IMF.

Our views on the currency are well known and have not changed. We, together with the European Commission and other programme partners, continue to support the governments programme of economic policies that rest on keeping the current currency regime and the plan to join the euro.
Painful austerity continues to be the only option.


Ginger
UK
Posted Anonymously
14 years ago
Jun 1, 2010 21:19
Euro should be trading below 1.21 by now and on its way to 1.15. Give it till the middle of next week and we'll get there.
catnip
Frankfurt, Germany
Posted Anonymously
14 years ago
Jun 1, 2010 18:41
Yes its USDx EUR weakened more vs NOK SEK NZD , and GBP
Of course nobody buys USD per UST for a return ON investment but for a return OF investment.
And no one buys EUr for a return of investment.
We may see some days of sideways in EURUSD but the eur crisis is far from contained.
When ECB states about 100 bln EUR of risky bank assets this is most certainly over optimistic
and refers to ECB's QE of troubled sov bonds but banks lack solvency it is still a critical situation
and spain may soon face a savings bank run.