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SNB Intervention Time?
After many months of calls for SNB intervention, did Philipp Hildebrand finally wake up? The EURCHF just surged, bringing day gains to over 1% on no news. Is the Swiss giant, with its pregnant CHF-full balance sheet, finally stirring? Or does Switzerland realize that Hungary and Austria are toast if the EURCHF continues to plunge? Keep an eye out on this pair (and the EURUSD which surged in sympathy). Or is the catalyst crude oil, where WTI just hit $91 and possibly set off some array of derivative USD selling? Or, far simpler, is the FTSE's passing 6,000 somehow supposed to imply that the dollar should take a step function move down. We can only scratch our head - for the answer, ask the momo quants who are in charge.
EURCHF:
and EURUSD:
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"Or does Switzerland realize that Hungary and Austria are toast if the EURCHF continues to plunge?"
Affirmative
i think it's more to do with ... Moody's Investors Service just announced that it has placed the ratings of 53 tranches in 14 European CLOs under review for possible upgrade
tell moody' to go suck my nuts
i give the half life about 45 minutes.
Its still unclear if Hildebrand looking for a possable 0.50cent Euro Swissy or not.... ;->
http://online.wsj.com/article/BT-CO-20101222-707190.html
50 Rappen, yes.
well, it was clear to me from the start that Hildebrand DID NEVER say that.
It was some paper (Weltwoche? NZZ?) that came up with the headlines.
All I know about this swiss is that they are good at tennis and they make a good cheese...
One percent+ moves in currencies in a matter of a few minutes - and on NO news to boot. Laughable.
ALL these markets are nothing but casinos - the playthings of the PD's and Hedge Funds.
Enter at your own risk.
I did, sold at the spike and just banked the profit
Impressive. You must have a direct line to the central banks.
Just as fiscal stimulus is a symptom of recession, Central bank intervention is a symptom of sovereign crisis.
The crisis is far from over and when this tremendous ponzi bukaki fantasy comes to an end it will be something to behold. This destruction is magnificant in it's size and scope.
People have been saying this for the past 50 years. Listen friend, it's all rigged to the upside, so make some free money.
Now oil surges well over 91, multi year highs. Recovery!
Pretty obvious that the pair was way oversold.
No Chart of Swatch Group climbing the materhorn? How about a swiss hottie? common, its christmas!
Obvious like PCLN was way overbought, or a different kind of obvious?
Cold
Robo is just playing a role...stunt cock.
Interesting this move comes as Greek 10yr are on the verge of crossing 13%, Ireland heading to 9%+, Portugal 6.6%, and only Spain isn't blowing out today...though Italy is joining in the party coming up on 4.7% today. Real bad juju for Euro.
Any smart trader will take todays intervention as their backstop and short the hell out of the Euro.
no need to short. this is no "drift higher." again "watch for borders to be closed" not "euro failure." and "those were probably Greek nationalists who attacked Rome today." the do have a cross as their flag....
Who's keepin down the silver man?
Can someone please explain to me how anyone makes money off of suppressing silver?
keeps gold price low for oily arabs and patient chinese. Check Ted Butlers site or GATA.
links please!
Lunch time is near so it's time to jam the stock indexes up to the bast level of the session. Yes thats what you will hear from all the financial chatter boxes. THE DOW IS AT THE BEST LEVEL OF THE SESSION.
Make free money buy SP500 futures they won't let it fall, its a risk free market.
The Chinese are spreading rumors about their willingness to put a floor under the Euro, no strings attached of course... lol
in the meantime "Korea...
By Daily Mail Reporter
23rd December 2010
Read more: http://www.dailymail.co.uk/news/article-1341110/Fresh-humiliation-euro-zone-China-says-bail-debt-ridden-nations.html#ixzz18yK5djNx
These markets are all corruptibly passé do to their manipulated nature on whims of idiots. You really do have better odds of making money at the casino......even more so if you have any intelligence at all. Plus it’s so much more fun.
I don't see room for intervention anymore. Interest rate at zero and EUR open market intervention should be off topic after the faild EUR100bn mispurchase (Hildebrand heavily dispraised for that). The only strategy the SNB has it supporting the EUR rescue packages.
This....Chinese rumored to bailout Europe:
http://www.dailymail.co.uk/news/article-1341110/Fresh-humiliation-euro-zone-China-says-bail-debt-ridden-nations.html
Yep. There you go. Ben Bernanke at work. He is not satisfied yet in his lust to destroy everything on the surface of the planet that is real...or is not in the interest of a corrupt banking industry.
SEC AGENT!! ATTENTION!! FLAG THE TAPE!! Just sayin'...
Sometime in the near future...we will [hopefully] be reminded of this day by an SEC agent that just finally decided to do his job.
And even as this goes on, and probably because it is so obvious that it is going on, the move is quickly being repealed in FXland...but probably won't be repealed at the pump in time for Christmas. Sweet! But we can build a bullish case for all of this, I am sure, because Xxon exectutives might buy more Tiffany cuff links on the last day to shop for Christmas crap!
CAPITAL WILL NOT FORM IN BANKS AS CORRUPT AS THESE.
so true, cdad
Still no confirmation...could be a fat finger, flash spike booboo...Portugal just got down graded to A+ negative outlook by Fitch
The last time Switzerland "did a buy off" they darn near bankrupted the nation. "Once more unto the breach"?
Fyi
http://www.rankia.com/respuestas/634498/images/29305
Short FITCH,MOODYS AND SP...all rating agencies scammers.
Bigger move is in CHFJPY, actually. -1.7% currently on the day.
Hammies thinks, speculates - that a bottom might be in for EURCHF, EURAUD (after it has cracked 1.30 to run the stops) and EURUSD - and the @DX possibly will grind lower from here.
Not just since today after teh spike, but already since the last few days (in my blog), as both EURAUD and EURCHF look like they were finishing exhaustion moves.
I won't even rule out that that was not the SNB, but somebody else covering shorts in thin markets ... not to get caught wrong footed in the case of ... the SNB to intervene in thin markets.
Also with the rating agencies now almost daily downgrading a piig and Eurella refusing to go lower - with possibly the BoS and/or china on the bid and buyside - I would be careful with shorts - or at least have a closer look at all that falling bullish wedges in these pairs.
sometimes I wonder if you guys can't chart a channel.
Channels are great until they're not. Lost a lot of money thinking channels meant something.
USD/CHF bouncing off all time low as well