EURUSD Dropping Despite Unremarkable Trichet Press Conference

Tyler Durden's picture

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infotechsailor's picture

...clearly that they intend a return to competitive bidding...

 

no foreign central banks will exit until amerika exploders

iota's picture

Not the only one moving. $20 drop on spot gold. If you buy the dips, that's a decent dip.

snowball777's picture

Ire-who? Portu-what? Grease? I'm sorry, you're breaking up...

RobotTrader's picture

Looks like the retail stocks are celebrating the big drop in commodity prices today.

SDRII's picture

yeah better sales. Might want to check in on H&M - sales flying margins crushed

Sudden Debt's picture

I do believe the dollar is a strong currency.

If you don't believe me, just do the following:

1. Take 1 dollar bill

2. place it on a rock

3. and try to hit that dollar bill with your fists as hard as you can!

I bet it'll start hurting after 100 times and the dollarbill will still be there!

 

wiskeyrunner's picture

Buy this dip, tomorrows numbers are rigged to look good. All economic data till the election will be rigged. It's not right but you can either kick the dirt and mutter under your breath, or you can make some free money in this risk free fed pump.

HelluvaEngineer's picture

Dollar up.  Gold down.  Market up.  Gotta love it.

Commander Cody's picture

(1) FX should reflect fundamentals; (2) US wanting a strong dollar (!!!) and (3) that nobody likes excessive volatility.

Liar, liar, pants on fire!  FX fundamentals?  Strong dollar - who in the US, expect perhaps those who still believe in liberty and are governed by, what some used to refer to as, the Constitution?  Nobody likes excessive volatility?  I'd say a few trading desks would disagree.

gwar5's picture

Something is cooking, no confidence, Ben is calling all the shots, and Trichet is just carrying his water and stalling trying not to spill any beans and screw it up right now

Probably doesn't help that Japan now has the jitters, nobody there wants to fall on a sword or lose their head

....Clearly they're all stalling Bernanke on purpose, just waiting for his psychological assessment reports to get back to them first so they can look it over and make sure he's not mad as a hatter

 

 

 

DYLAND's picture

The reason why the EUR- USD is dropping because the move from Aug 24th to Oct 7th matches the price move from June 7th to Aug 6th. Simple Geometry.

system failure's picture

GOLDMAN SUCKS recommendation to buy the EUR was dead on yesterday. I must say, you will be rich when you do the opposite of GOLDMAN SUCKS and KRAMMERs recommendations. Simply unreal at how bold their comments are into the slaughter. LOL

mr_fro2000's picture

lovin how Waddell and Reed is the defacto reason for all negative news.

im stealing this sentiment for my personal life.  if anything ever goes bad im blaming Waddell and Reed.

Cognitive Dissonance's picture

I blamed last nights erectile dysfunction on Waddle. Then I thought about Reeds and things stiffened right up.

However by that time my wife had rolled over and gone to sleep so I blamed Tyler and the ZH crew. :>)

primefool's picture

They are all relaxed because Ben has the oil and gold markets covered and completely under control. As well as the Treasury markets and stock markets .
All markets are free to do as Ben dictates. Free markets.

A_MacLaren's picture

Fiat volatility is never a good sign.

unwashedmass's picture

gang rape on gold and silver.....spectacular buys in the miners getting even better....

little tiny boy MNEAF...announced five new veins of high grade silver this morning......1.95 per share......i am loving this....

thank you JPM...

Dr. Engali's picture

But Goldman told me to buy the Euro.

unwashedmass's picture

ah you betcha they did. someone had to buy them out.

virgilcaine's picture

Risk off.. me bitchez.

system failure's picture

FLASH CRASH:

 

We should be closer than ever to that dump the hay wagon and unload phase pretty soon. Maybe today!!!

 

FLASH CRASH PART II:

 

Waddell and Reed must be selling