This Is What A Disorderly FXit Looks Like
The biggest market in the world - foreign exchange - is having some issues here. Wherever you look, trends are snapping hard and levels are gapping. EURUSD is down 1% from Friday back below 1.31 (a 240 pip swing from pre-Italy levels); EURJPY has collapsed to one-month lows; EURCHF is heading the wrong way for the SNB; and carry trades are lifting in rip your face off mode. "That escalated quickly..."
EURJPY collapsed...
and wherever you look things are gapping...
And overall against the USD - it is getting a little jumpy...
Charts: Bloomberg
(6 votes)
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Here it comes. Godspeed all.
FX pairs are bunga jumping
Should have been anticipated !
Will be wild at many moments as the euro-zone split unfolds
Bunga-bunga appears to have briefly replaced Ben Bernanke as the most influential man in the world. Who would've thunk it?
So this is what they do at those G20 meetings
Isn't CHF pegged to EUR these days?
I think it's more like pegged by the euro, if you know what I mean...
No, the Swiss central bank had thrown the kitchen sink to try establish a floor on EURCHF at 1.20 and was happy to see the EUR recover in recent months...
Bring it!
The new normal.
You crazy FX fools. You're gonna meet my friend pain!
Misery loves company.
EUR/CHF is going back to 1.20 within weeks.
And then EUR USD back to 1.60 as the southern countries leave the euro
CHF peg will be a lot more comfortable then
Would not be surprised if Switzerland even joins the Germanic euro once the Mediterranean countries, including France, have departed
We'll not join the Euro, even an adjusted version. There would be a popular referendum to stop that. Anything related to the EU or just Germany would be voted down.
Switzerland is becoming increasingly irrelevant. Without the ability to hoard American and German "winnings", the Swiss will have to sell lots and lots of cheese or chocolate on the international market. The biggest Swiss real estate market is in the ghettos of Eastern Europe. Good luck with that!
Truth. The Swiss folded like a cheap suit when the State Dept threats made UBS roll over and give up secrecy. Next is State Dept threats if they don't let Monsanto do what they want. That worked in many other countries.
We have our own Monsanto - Syngenta.
If one reads history, one may believe the Swiss to be the puppet masters here.
They might have peculiar predilictions in the sexual arena but they know how to wind a clock, know what I mean?
Yup +1
Rothschilds weren't Swiss but the Swiss sure seemed to like the Jews and their gold. No matter who delivered it.
Specially the gold...
The domestic financial sector makes up about 10% of GDP. The foreign activities of UBS and CS aren't really making such a large impact on the domestic economy. They've transferred these businesses to London, NY, Singapore, Hong Kong and the Caymans already. They've not been paying any taxes for 5 years, too. The federal budget still generated surpluses each year.
sure, whatever. you're the greatest.
why the fuck did the Swiss NOT get invaded by Hitler? you made concessions and deals with the "devil"
same as it ever was
Why do you have to resort to name calling? I just tried to offer you information that might help you understand the current economic situation of Switzerland.
swissaustrian
do not try to change the fixed opinions of the peanut gallery here....they do not respond to new input
ITYM horse lasagne.
Nestle is Swiss.
Time to run screaming for the exits.
Panic?
Bad day for real estate in the Hamptons.
Note to self..., days like this are why you don't trade fucking FX!
Indeed. "keep those stops tight" folks. And if you still can't help yourself...make sure it's with people you know...and trust.
Make your own luck. Get out of paper.
this is not the exit from paper. Just imagine when the "digital" paper game unwinds. All of the digital fiat in the world is vapor locked in a nano second....without warning.
do the markets still require a nanosecond for anything? waiting that long is like so August of 2012....the new super cooled computers are limited only by the speed of light and that damned 1000 fooot cable length minimum...
serenity now, insanity later
Looking at the charts, it's more like instanity now, suicide later.
Charts are Irreal Sir,
The reality people has no money in Spain and Portugal....IBEX has to be close to 3.500 points and its quoting roughly 8´000 -8,200
NO REAL buyers in Spanish Equities since 2010
All I can say is "Sham-wow!"
Penny-stock "action" now evident in all asset classes.
Joke's on you. Fuckup-bernanke and his printer of fraud-ill-repute assure you pay for all volatility.
Pucker up buttercup.
Just a crack in the foundation. I wonder if they put in rebar during initial construction. We will soon find out!
Adult version of "Hot Potato" and "Musical chairs" wrapped together.
That's going to leave a mark
Note to BernanQE: It didn't have to be this way.
Bet HE doesn't end up in a government issued plastic coffin.
wait a few minutes, benny fix.
Hilarious - what made this all happen? Democracy! lol , people voting for who they wanted to vote for.
I don't know about you guys, but I voted for an Elector and I can only judge / hope that he / she represents me / my interests well in deciding our next president.
To remind, the popular vote is precisely that, a popularity contest.
Exactly, you are voting for the best show...like Reality TV. Goldmann says your stupid and we should take care of them (or translation: "rape them)
Idiot voters WISH it was a popularity contest. That way, they might actually get the chance for once to vote for a popular candidate.
As it stands, voting is nothing but a method of soothing both the apathetic and informed voters from their depression/anger issues.
Anyone who votes has the perspective of an innocent child (with innocence replaced by Hopium-fueled ignorance).
The Masters of the Universe hate democracy. Who are these stupid people?
The only exit for EuroPIIGS is...
Devaluation....Creating EURO " A" and Euro "B"...
"Iceland has been the test"
He have to devaluate the freaking Euro, cos the massive leverage taken
European banks are toast&fried.
End of the game
Its impossible to hold this farce more, people dont have a penny in Spain. Unemployment 26.5% and tranch 16-25 over 56%.
DEBT HAIRCUTS coming YES OR YES in sovereign debt
Spain downgraded to Junk