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Euro Plunges As France Downgrade Rumor Emerges

Tyler Durden's picture




 

The country that Zero Hedge has long claimed is the glossed over black sheep that will take down the core of the eurozone is about to be downgraded. At least that's the case according to the latest flurry of market rumors. EURUSD now moving 10 pips with each trading block... and not higher. Look for support somewhere in the mid 1.23s.

 

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Fri, 05/14/2010 - 09:56 | 351510 godfader
godfader's picture

Au revoir, croque "of sh**" monsieur.

Fri, 05/14/2010 - 10:34 | 351649 mephisto
mephisto's picture

LOL funny +1

Fri, 05/14/2010 - 09:57 | 351512 schoolsout
schoolsout's picture

Is Gisele still long Euro?

Fri, 05/14/2010 - 10:49 | 351690 DonnieD
DonnieD's picture

Don't forget Jay Z.

Fri, 05/14/2010 - 11:03 | 351736 hp12c
hp12c's picture

I heard she broke the heels of her Jimmy Choo's running to exchange them for $$ USD.

Fri, 05/14/2010 - 09:57 | 351513 mdtrader
mdtrader's picture

and then parity.

Fri, 05/14/2010 - 09:59 | 351521 John Law
John Law's picture

1.2329 is the Oct. 2008 low. If it makes it through that (which I think it will) it will go to parity in a matter of days probably.

Fri, 05/14/2010 - 12:46 | 352040 ElvisDog
ElvisDog's picture

So, if the Euro did plunge to parity in short order, would that represent a short-term trading opportunity to go long the Euro? Corrections tend to overshoot on both the upside and downside. Would it be a reasonable speculation for the Euro to dead-cat-bounce 10 or 15%?

Fri, 05/14/2010 - 15:12 | 352425 spekulatn
spekulatn's picture

IMO, yes.

I believe Tyler, in a reply to Cheeky last week, called for 1.25 then a pop to 1.40 before all doody hits the wall.

Don't quote me please, I may be mistaken on account I burned too many brain cells in my youth.

Have a riot free weekend ZHedgers.

Fri, 05/14/2010 - 10:01 | 351528 williambanzai7
williambanzai7's picture

Thank heavens for little girls...

Fri, 05/14/2010 - 12:05 | 351951 BlackBeard
BlackBeard's picture

wtf?

Please explain.

Fri, 05/14/2010 - 12:41 | 352020 williambanzai7
williambanzai7's picture

Simple, happier days...no?

http://www.youtube.com/watch?v=xSGM3ZTP2nw

Fri, 05/14/2010 - 10:04 | 351541 john_connor
john_connor's picture

Nice call, TD as usual.

Fri, 05/14/2010 - 10:04 | 351542 zeroman
zeroman's picture

how hypocritical and ironic that the U.S. ratings agencies can downgrade and implode the Euro. This is all orchestrated folks.

Fri, 05/14/2010 - 10:17 | 351599 Anton LaVey
Anton LaVey's picture

You have a point, there.

Fri, 05/14/2010 - 12:14 | 351976 VegasBD
VegasBD's picture

ironic indeed sir

Fri, 05/14/2010 - 10:06 | 351549 kaiten
kaiten's picture

Does anyone still care what rating agencies say? They are a joke.

Fri, 05/14/2010 - 10:08 | 351556 wintermute
wintermute's picture

A couple of weeks ago France was talking about banning the ratings agencies from Europe. They better get moving on the idea :-)

Fri, 05/14/2010 - 10:18 | 351601 Anton LaVey
Anton LaVey's picture

Hmmm... France, not so much. On the other hand, if Germany is the last man left standing in Europe, they may well go medieval on the rating agencies.

Fri, 05/14/2010 - 13:31 | 352168 Gunther
Fri, 05/14/2010 - 10:10 | 351564 cbaba
cbaba's picture

This is orchestrated  by the FED, punishing France for their threat to leave Euro.

 

Fri, 05/14/2010 - 10:10 | 351565 cbaba
cbaba's picture

This is orchestrated  by the FED, punishing France for their threat to leave Euro.


Fri, 05/14/2010 - 10:11 | 351572 RobD
RobD's picture

Wow someone sure is putting the smack-down on gold right now.

Fri, 05/14/2010 - 10:28 | 351619 macroeconomist
macroeconomist's picture

I've been watching that and wondering as well..Speculative carry trade getting out of gold to cash in  I presume...

Fri, 05/14/2010 - 10:16 | 351596 UGrev
UGrev's picture

Greek Bailout says "Whu happen?"

Fri, 05/14/2010 - 10:20 | 351604 Mitchman
Mitchman's picture

Quel dommage.  No melt up today.

Fri, 05/14/2010 - 10:56 | 351711 sheeple
sheeple's picture

Ooh La La ... from souvlaki to chanterelle ou girolle ... YUMMM

Fri, 05/14/2010 - 11:03 | 351732 Pimp Juice
Pimp Juice's picture

I knew the bailout should have been $2 trillion, I knew it!

Fri, 05/14/2010 - 11:07 | 351749 Fazzie
Fazzie's picture

 Ben Bernake losing the race to the bottom? Damn, didnt see that ever happening.

Fri, 05/14/2010 - 11:11 | 351760 Ras Bongo
Ras Bongo's picture

1.2371

Bitches!

Fri, 05/14/2010 - 11:12 | 351763 Ras Bongo
Ras Bongo's picture

1.2368

Hozzz!

Fri, 05/14/2010 - 11:14 | 351769 Ras Bongo
Ras Bongo's picture

1.2365 !

Yo Moma

 

Fri, 05/14/2010 - 11:34 | 351861 Arthur
Arthur's picture

Any one considering buying stock European based companies?  From a dollar perspective  ADR stocks could drop another 20% assuming the European stock markets continue to drop along with the value of the Euro.  With parity, even more.  Very interesting times.

 

Fri, 05/14/2010 - 11:47 | 351893 Eally Ucked
Eally Ucked's picture

Can anybody explain to me why US is not under threat of down grading? Is it printing press which delivers product as fast as needed? Or something else?

Fri, 05/14/2010 - 12:39 | 352011 OdinsBeard
OdinsBeard's picture

Hmmm, other than the rating agencies being US based and also liking the $$$ they get from their involvement in it all?  Nahh, that couldn't be could it? ;)

Fri, 05/14/2010 - 12:41 | 352018 Apostate
Apostate's picture

Eally - just think of it as a cover-up. If the US takes a downgrade (or the major states), China may become destabilized. 

I suspect they're trying to keep things going to prevent having Moody's/S&P/Fitch people from being gutted on the altar and to control the incumbent attrition in November, as well.

They're craven liars who have never taken a stand in their lives. So you can expect their primary instinct to be self-delusion and self-preservation. 

Fri, 05/14/2010 - 12:50 | 352055 Tarheel
Tarheel's picture

baisez les Français. They never support America

Fri, 05/14/2010 - 14:17 | 352299 Grand Supercycle
Grand Supercycle's picture

 

From mid 2009 onwards I warned of an impending US Dollar rally. My proprietary indicators can identify trend changes before they occur ...

http://www.zerohedge.com/forum/latest-market-outlook-1

http://stockmarket618.wordpress.com

Fri, 05/14/2010 - 14:47 | 352362 Archangel
Archangel's picture

I haven't read the referenced report yet.

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/FLA...

Peace,

Scindite Jugula Eorum

 

Sat, 05/15/2010 - 03:05 | 353369 Tense INDIAN
Tense INDIAN's picture

offcourse everythings orchestrated....this picture tells it all

 

 

 

http://www.facebook.com/home.php?#!/photo.php?pid=12154727&o=all&op=1&view=all&subj=112930350107&aid=-1&id=870335595&oid=112930350107

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Sun, 03/20/2011 - 15:43 | 1079364 loopslike
loopslike's picture

It is just only a rumor.We should not fear at this. Just keeping everything as usual. loops@ laser hair removal

Fri, 04/01/2011 - 23:51 | 1127353 jessiejune
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Wed, 07/13/2011 - 07:43 | 1450994 hama
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The country that Zero Hedge has long claimed is the glossed over black sheep that will take down the core of the eurozone is about to be downgraded. At least that's the case according to the latest flurry of market rumors.
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Thu, 07/14/2011 - 05:37 | 1455271 hama
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claimed is the glossed over black sheep that will take down the core of the eurozone is about to be downgraded.
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Fri, 07/15/2011 - 06:07 | 1458679 hama
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Hmmm... France, not so much. On the other hand, if Germany is the last man left standing in Europe, they may well go medieval on the rating agencies. Thanks
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