EUR Repatriation Over? European Currency Slumps

Tyler Durden's picture

It seems our premonition of Europe's year-end desperate need for Euros to prop up their ailing and illiquid books has indeed come to an end. EURUSD is heartily disagreeing with US equity exuberance and, more importantly, the all-important carry driver EURJPY is pointing to a decided risk-off aspect as Europe closes its first trading day of the year.



Charts: Bloomberg

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homersimpson's picture

I'm sure your charts were really useful around early Oct 1st and Nov 26th last year.. *rolls eyes*

Investing by charts is akin to driving while looking at your rear view mirror.

Snoopy the Economist's picture

Homer, charts (Tech analysis) are teh only to successfully trade the markets - but 'you' can always wait for Jim Cramer to tell you when to buy. Of course insider info is always nice but I don't have that.

homersimpson's picture

"(Tech analysis) are the only to successfully trade the markets"

I highly doubt it. Technical analysis failed in 2001, 2008, etc. for a very simple reason - technical analysis only accounts for the PAST.

If technical analysis had it's way, Gold will still be priced at $400 an oz and Ebay would be at $800 a share right now. After all, technical analysis supposedly dictates pricing, right?

The only way to trade successfully is to have insider info or be a a member of Congress. All other methods is strictly gambling under the guise of financial management and investment.

Heck, if you want to really trade on technical analysis, you're better off doing sports betting on the NFL/NBA/MLB. At least the odds are much, MUCH greater that the game you're betting on is not rigged and all the TRUE data of past performance is present for everyone to see.

Try getting the real data on any SP500 company.. fooey to that idea. More sugar coating than a Krispy Kreme donut shop. Mmmmm.. donuts.


Snoopy the Economist's picture

Homer: I since your obvious erroneous method of technical analysis failed then all methods of technical analysis failed. You almost sound like Bernank saying nobody knew the market crash was coming. I call BS

dpr10's picture

Dude gold went on a tear last time around the debt ceiling debate..hellooo..what chart are we talkingg about..

Cognitive Dissonance's picture

You're getting ahead of yourself Tyler. The spin cycle of the world's greatest wealth transfer still hasn't finished.

Wait....wait....I forgot the Downey. Reset....reset.....reset dammit.>

Caviar Emptor's picture

These cheap coin-op washers #%&**!! We gonna need an industrial dryer after the cycle is over

DrDinkus's picture

this website has cost me a lot of money, nevermoreso than  this recent fiscal drama...wondering this morning has it been worth it to know 'the truth'. probably. easier to sleep at night.

ebworthen's picture

Consistent theme at ZH is that reality and the stock market are on different planes of existence.

If you are long you should be happy and sell right now and go to cash then enjoy the articles.

If you have been shorting you haven't been listening.

BlueCheeseBandit's picture

Learn to distinguish time horizons of advice.

ebworthen's picture

I'm trapped in a room in the hotel in Mel Brook's "High Anxiety", the T.V. only plays non-stop "Twilight Zone" episodes, room service will only bring Champagne and Crepes, the sun never sets, and the blinds won't close.

Cognitive Dissonance's picture

It's the tooth picks holding my eye lids open that have me in a snit.

Dr. Engali's picture

So now it's Europe's turn to be in the spotlight for a couple of months. At least through groundhog day, which we can't seem to get away from.

dvsteenk's picture

and sure as clockwork, Europe closes at the highs of the day... seems so easy for the algos, push a button at 17:10 and create your own random walk... up, and up

Caviar Emptor's picture

Well, hey as long as the status quo lives on, there will be plenty of cash sloshing through the banks. Win!

dvsteenk's picture

I'd say buy and hold is alive... in 5 minute timeframes

they manage to close it where they want, once more

but I think today was set a bull trap

muppet_master's picture

BUY HIGH !!! = HURRY UP and buy on the NEWS !!

spx @ 1451...was @ 1458 right @ the open..u missed ur oppty to BUY HIGH @ 1458.....

I shorted on Monday avg price = 1424...NOT 1398 (day's low)...just added to my short; my last wad @ avg price = 1435....

see you guys at SUB 1300 suck-asss !!!

oh yeah..EUR was @ 1.3295 yesterday on the then dropped to 1.3266...bounced around all the way up to 1.3290...its NOW @ 1.3181....suck-ass !!! maybe bQE should engage in  more EUR swaps (buy high) under orders of the QEorganizer.....

I'm just gonna ride...NOT gonna waste more than 15 minutes/day max monitoring casino.

oh yes the debt limit.."its just politics" say the stupid demon-rats......just keep raising the credit card limit, until the kenysian-kenyan can no longer even make the min. payments.  ROFLMAO !!!

dvsteenk's picture

you might see 1400 passing by again pretty soon... 1300 not yet in my cards

fxnewbie's picture

where is EUR relative to EUR swap rates?

falak pema's picture

this is the Oligarchy organised roller coaster market.

Now the pressure is off the USD momentarily, the hot money splurge is gonna move elsewhere like a mad TRex on the lose. 

Nowhere to hide Zirped money that is leveraged to sky in order to pay its accumulated debts that just keeping climbing behind the hot money.

Its like chasing King King up the EMpire State. 

Bastiat009's picture

You want US$ to play in the largest casino ever. US stock markets are never going to go down. It is legally impossible. So European banks and traders buy US$ to play in. And just in case they fail (which is once again legally impossible) they'll get bailed out by a central bank or another.