Citi Pours Water On EUR Rally, Sees Knee Jerk Covering To 1.45, Longer-Term Issues Still Unresolved

Tyler Durden's picture

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bankrupt JPM buy silver's picture

Longer term issues...who cares....just print, kick, and wait again till next year for the same cycle.

 

Gold/silver to the moon.

bill1102inf's picture

and the bull marches on.  Everything UP UP and Awaay this morn.

Dr. Engali's picture

The bear will come like a thief in the night. It will be fast and it will finish the job it started in 08. 

Max Hunter's picture

It will be fast and it will finish the job it started in 08. 

Pretty crazy..  TPTB obviously want a strong Euro.. What I can't figure out is; why..

kkam's picture

A strong Euro means a weak $. The Bernank wants to win the race to the bottom and be crowned Ms. Ugly.

GoinFawr's picture

Ask yourself:
Who would get the worst deal selling USD to buy EUR if the EUR is strong vs. the USD?

Or maybe it is just a consequence of such action, no?

Archimedes's picture

Apparently nothing bad can happen if you just keep printing paper, shuffling it around and delaying the inevitable. 3+ years and counting.....

 

A Man without Qualities's picture

I somehow suspect that Brent crude at $120 tells us more about the long term consequences of saving the French banking system.

Maybe Renault can invent a car that runs on cheese?

monopoly's picture

Day to day changes mean nothing. Long term, I am set. Ya think Robot still has TZOO in his portfolio.

Needosh's picture

They start the presses 'over there' and the Euro goes up, whats the Dollar getting wrong?

Maybe the bounce was just because the jobless increase was just 'worse than expected'....

RRally on !!!

And good morning to all, I have just been given my Zero Hedge 'license to print'... What did Woody Alan say.. I wouldn't want to be a member of any club that would have ME!

 

 

IQ 145's picture

 I like the article; because if I were asked, I would have written the same thing! That doesn't mean it right, of course. I usually manage to controll any enthusiasm that arises for the FX markets; I have a terrible win-loss history in them. But, if you must do it; this is the way it supposed to be done; sell the rally. A short covering rally is just a market internals thing and it's kind of "born to die".

Clowns on Acid's picture

Welcome to your 1st junk Needosh.

It was Groucho Marx NOT Woody Allen (pls note correct spelling dumkopf).

papaswamp's picture

Guess they didn't get in on the deal that GS did.

jkruffin's picture

GOLD and SILVER have to be getting ready to go to the MOON!  All this crap these central banks are pulling is complete nonsense!

papaswamp's picture

I still think it will drop somewhat once the deal is finalized and the US poops out some farce of a plan and raises it's debt. The short term speculators bail very quickly and run to the next thing. It's when it dawns on them that the game is up and they realize the new kings of PMs is Asia (because they will accelerate their acquisitions on a price down swing) prices will explode. I was thinking $1750+ by December...but it may go much higher since the underlying problems aren't addressed.

scratch_and_sniff's picture

relief rally...im just relieved it rallied.

Clowns on Acid's picture

No Gov't Intervention !?

What would lil Timmy TurboTax and the rest of his mentally minature, feral pack of morons do then for work?

writingsonthewall's picture

"when the market can remain idiotic and socialist for far"

 

Socialist? - what part of this market does the working class own?

 

Please make the distinction between fascism and socialism - otherwise you'll do exactly what Hitler did and ensure that the people run into the arms of the fascists.

 

No wonder the world is in a mess - people are still having trouble handling simple (but vital) concepts.

ivana's picture

think that lemmings are done at 1.44