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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godfader's picture

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

schoolsout's picture

Is Gisele still long Euro?

hp12c's picture

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

mdtrader's picture

and then parity.

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.

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%?

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.

williambanzai7's picture

Thank heavens for little girls...

john_connor's picture

Nice call, TD as usual.

zeroman's picture

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

kaiten's picture

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

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 :-)

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.

cbaba's picture

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


cbaba's picture

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

RobD's picture

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

macroeconomist's picture

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

UGrev's picture

Greek Bailout says "Whu happen?"

Mitchman's picture

Quel dommage.  No melt up today.

sheeple's picture

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

Pimp Juice's picture

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

Fazzie's picture

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

Ras Bongo's picture

1.2365 !

Yo Moma


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.


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?

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? ;)

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. 

Tarheel's picture

baisez les Français. They never support America

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 ...

Archangel's picture

I haven't read the referenced report yet.


Scindite Jugula Eorum


Tense INDIAN's picture

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

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loopslike's picture

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

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