This page has been archived and commenting is disabled.

It's Going To Be A Long Night (With Updates)

Tyler Durden's picture





 

As liquidity started to come back into FX markets this evening, it is very clear that humans and algos are reacting to every headline, rumor, and bloviation from Europe. In the last two hours, as this chart of EURUSD shows, while the range is small, the reactions are telling. It does appear from the EUR ramps that no-news-is-good-news for now - though evidently, the facts behind that 'no news' paint a different picture. As S&P 500 futures just opened, so EURJPY was ramped 70 pips to hold the only policy tool the Fed has left at unch (for now).

 

EURUSD

 

and the second S&P 500 futures opened (looking like they should gap down 10-15 points based on Treasury futures and FX carry), so 'they' ramp EURJPY 70 pips to save the day...

 

As ES, FX, and Bonds remain divergent... (the chart above is shown in the blue oval below!!)

 

UPDATE: S&P 500 Futures ramped to take out Friday's stops...

 

Charts: Bloomberg

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 03/24/2013 - 19:07 | Link to Comment Irelevant
Irelevant's picture

Long week td :)

Sun, 03/24/2013 - 19:11 | Link to Comment toys for tits
toys for tits's picture

Cyprus president offered to resign while in the EU, IMF meeting, which makes one ask, who's his boss?

 

http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-ba...

Sun, 03/24/2013 - 19:27 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I'll be up late tonight and up early tomorrow to watch the action!

 

EDIT:

Drudge has lots of headlines about the Middle East now: http://drudgereport.com/

Sun, 03/24/2013 - 19:28 | Link to Comment francis_sawyer
francis_sawyer's picture

get a life...

Sun, 03/24/2013 - 19:51 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

:)

Sun, 03/24/2013 - 20:17 | Link to Comment francis_sawyer
francis_sawyer's picture

@DCRB

~~~

I like you... But 'up all night'..."... C'Mon man!

Sun, 03/24/2013 - 20:40 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Have no fear!  I will be in bed by 2:00 AM or so...

Even my rhetoric can go a little overboard, not enough grease?

Mon, 03/25/2013 - 04:10 | Link to Comment Rakshas
Rakshas's picture

GEEZ IF I'M NOT IN BED BY MIDNIGHT I GO HOME..........

Sun, 03/24/2013 - 19:54 | Link to Comment cifo
cifo's picture

Haven't we been through the same sh*t last weekend? When TF will this end, if ever?

Sun, 03/24/2013 - 19:30 | Link to Comment Going Loco
Going Loco's picture

My thanks to the Durdens for their work this day. Pathetically small donation is coming.

Whatever happened to Marla?

Sun, 03/24/2013 - 19:37 | Link to Comment wee-weed up
wee-weed up's picture

What's the latest on the rumor that Assad might be dead?

Sun, 03/24/2013 - 19:44 | Link to Comment francis_sawyer
francis_sawyer's picture

Here are the HOTLINKS:

~~~

binladen.com

chavez.com

generalissimofranciscofranco.com

rasputin.com

 

Sun, 03/24/2013 - 19:47 | Link to Comment otto skorzeny
otto skorzeny's picture

no bias there.

Sun, 03/24/2013 - 19:50 | Link to Comment Max Hunter
Max Hunter's picture

LMAO.. and how convenient, he was killed by imadinnerjacket.. You can't make this shit up.. Ohh wait.. yes you can.. Nevermind

Sun, 03/24/2013 - 20:53 | Link to Comment Zwelgje
Zwelgje's picture

Al-Khateeb, leader of FSA resigned. So some serious noise has to be made to push this to the background.

 

Sun, 03/24/2013 - 20:00 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Bury your PMs and then sit down and read Charles Dickens to see what life will be like in a few years.

 

Sun, 03/24/2013 - 19:43 | Link to Comment Buck Johnson
Buck Johnson's picture

This isn't good, I don't see anything positive coming out of this.

Sun, 03/24/2013 - 19:55 | Link to Comment toys for tits
toys for tits's picture

Same link as above.

And a small homemade bomb has gone off at a local Bank of Cyprus branch.

Sun, 03/24/2013 - 19:12 | Link to Comment DJ Happy Ending
DJ Happy Ending's picture

I am long Ben Bernanke's big gay bear vibe.

Sun, 03/24/2013 - 19:49 | Link to Comment Croesus
Croesus's picture

..

Sun, 03/24/2013 - 19:34 | Link to Comment stocktivity
stocktivity's picture

There you go....Here's your deal!  - eurogroup supposed to be starting soon. suggests herman's cut the deal. talk of 40% haircut for bank of cyprus. it has €28bn savings

 

http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-ba...

11:22 GMT

New highs tomorrow

It's all Bullshit!

Sun, 03/24/2013 - 19:46 | Link to Comment Sir Humphrey
Sir Humphrey's picture

Shit just got real as a bomb exploded at a Cyprus bank.......

 

.....Spiderman nowhere to be seen

 

http://www.youtube.com/watch?v=7WvVCqW-nVA

Sun, 03/24/2013 - 21:41 | Link to Comment thisandthat
thisandthat's picture

Don't panic - simple cosmetic operation. The front-office image was no longer reflecting the back-office reality, so they just made some readjustments to make it all look a little bit more consistent.

Sun, 03/24/2013 - 19:09 | Link to Comment Tom Servo
Tom Servo's picture

Bullish!

 

Sun, 03/24/2013 - 19:16 | Link to Comment agent default
agent default's picture

Nah, it's just bullshit.  Like every "market" reaction since 2009.

Sun, 03/24/2013 - 19:29 | Link to Comment AllWorkedUp
AllWorkedUp's picture

Yep. A fool's game.

Sun, 03/24/2013 - 19:50 | Link to Comment max2205
max2205's picture

Can you say 1600.... This week

Sun, 03/24/2013 - 19:18 | Link to Comment peter4805
peter4805's picture

Yup, if Wily Coyote can hover in mid air, there's no reason why the Euro can't do the same.

Sun, 03/24/2013 - 19:09 | Link to Comment PersonalRespons...
PersonalResponsibility's picture

Arrows!

Sun, 03/24/2013 - 19:09 | Link to Comment ShortTheUS
ShortTheUS's picture

We need a drinking game of sorts for nights like these.

Sun, 03/24/2013 - 19:25 | Link to Comment CClarity
CClarity's picture

Drink on "bomb".  We'd all be too drunk too fast on "gold" or "Germany" or "deposits" or "run".

Bomb will get us pleasantly lit.

Sun, 03/24/2013 - 21:06 | Link to Comment Van Halen
Van Halen's picture

I find your lack of faith in bombs disturbing.

Sun, 03/24/2013 - 19:46 | Link to Comment duo
duo's picture

My brackets are blown, might as well watch the banking system implode.

Go Florida Gulf Coast U! 

Sun, 03/24/2013 - 19:11 | Link to Comment Sudden Debt
Sudden Debt's picture

the clown is spewing his weekend alcohol

Sun, 03/24/2013 - 19:11 | Link to Comment CheapBastard
CheapBastard's picture

That looks like my EKG when I read the Swimsuit edition of what's that rag called....

Sun, 03/24/2013 - 19:13 | Link to Comment Truther
Truther's picture

A great clusterfuck..Am sure. Bring out the lollipops

Sun, 03/24/2013 - 19:13 | Link to Comment yrbmegr
yrbmegr's picture

When did the breakup of the Euro Zone become inevitable?

Sun, 03/24/2013 - 19:16 | Link to Comment jim249
jim249's picture

From the day it was formed.

Sun, 03/24/2013 - 19:18 | Link to Comment yrbmegr
yrbmegr's picture

I thought someone would say that, and it's not entirely untrue.  But I'm wondering what event has really sealed its fate.  You will recall that, initially, the euro appreciated and surpassed parity with the dollar.  Those were the gravy days.  What event really changed that?  Was it the 2008 financial crisis?

Sun, 03/24/2013 - 19:28 | Link to Comment Ratscam
Ratscam's picture

Lisbon Treaty turned EU into EUSSR.
That was the big event in 2009 and hardly anyone noticed!
http://www.civitas.org.uk/eufacts/FSTREAT/TR6.htm

Sun, 03/24/2013 - 19:38 | Link to Comment yrbmegr
yrbmegr's picture

Interesting.  Makes the various crises in Europe look even more intractable.

Sun, 03/24/2013 - 19:53 | Link to Comment NoDebt
NoDebt's picture

Europe is right next to the middle east so "intractable problems" come with the territory.

Sun, 03/24/2013 - 19:25 | Link to Comment toys for tits
toys for tits's picture

They succeeded in yoking together an ox and a donkey, which never works as it puts too much strain on the donkey.

Sun, 03/24/2013 - 20:58 | Link to Comment WmMcK
WmMcK's picture

Do not plant two kinds of seed in your vineyard.  It defiles the fruit.

It's truly amazing how many lessons we continually need to relearn.

Sun, 03/24/2013 - 19:13 | Link to Comment ziggy59
ziggy59's picture

Revealed, the secret plan to airlift stranded Britons from Cyprus: Military to rescue up to 60,000 expats as island faces financial meltdown

http://www.dailymail.co.uk/news/article-2298236/Cyprus-crisis-Military-r...

Sun, 03/24/2013 - 19:34 | Link to Comment toys for tits
toys for tits's picture

Thanks for the article post.

Lesley, who runs an animal sanctuary in the mountains above Limassol, is down to her last 64 euros. Before the crisis, many of her 15 dogs and 20 cats were sponsored – 20 euros a month each – and that, supplemented by cleaning work, was her chief source of income.

‘It’s drying up because people haven’t now got the money to sponsor animals. Who can blame them? 

At the moment I’ve got 50 euros in my purse and just 14 in the bank and that, sadly, is it,’ she said.

‘I am worried about feeding the animals. As it is, some of the dogs are, like me, living on pasta.’ 

Whatever the outcome of rescue talks, the crisis has already dealt an irreparable blow to Lesley’s livelihood – and that of many other Britons in Cyprus. Some expressed fears yesterday that they are days away from closing their businesses.

Central planning strikes again. Stupid lying cocksucking fuckfaces Troika.

Sun, 03/24/2013 - 20:59 | Link to Comment RockyRacoon
RockyRacoon's picture

Sorry to report that the dogs may soon be dining on Lesley.  Good thing she's not keeping cats.  They don't even have to be hungry.  At least a dog has some self respect.

Sun, 03/24/2013 - 21:08 | Link to Comment Van Halen
Van Halen's picture

I think the dogs might soon be dining on Lesley. And the people might soon be dining on the dogs. And then on the bankers.

Sun, 03/24/2013 - 19:39 | Link to Comment disabledvet
disabledvet's picture

read the comments...second most popular being "this stuff is all bullshit" but i'm agreeing with you ziggy. i think this one might be the proverbial "straw that breaks the camel's back." i'll be watching dollar yen...as in "dollar get's whacked yen surges." in my view that's the cue that "the euro is done." TOTAL chaos in Europe if that's the case. Borders will have to be closed, checkpoints set up...Germany is the only country with a draft, but France, Britain and Sweden have bad ass military's. Will there be a draft in the USA? We shall see...

Sun, 03/24/2013 - 19:13 | Link to Comment stocktivity
stocktivity's picture

A deal will be struck. Benny is probably on the phone this minute with the leaders of the European Central Bank. new highs tomorrow...It's all Bullshit!

Sun, 03/24/2013 - 19:32 | Link to Comment Law97
Law97's picture

Indeed everybody knows a deal will be struck, that's why markets were ho-hum about it all last week and why futures are still flat even after 2 additional days of negotiating.

 

 Every time the last several years the market had plunged on fiscal cliffs, government shutdowns, eurozone fears, Greece, the market has come roaring back.  We have all the same string of macro-disasters this year but the market has shrugged them all off.  A year ago we'd be down 10% by now with the barrage of negative news and crises hitting week after week.  But not now.  The sheeple have been conditioned.

 

Nothing can bring this market down.  Nothing short of total catastrophe, like the Fed hinting they might end liquitidy injections. 

Sun, 03/24/2013 - 19:40 | Link to Comment disabledvet
disabledvet's picture

really? "nothing"? what if the market just "goes down anyways" dipshit.

Sun, 03/24/2013 - 19:49 | Link to Comment otto skorzeny
otto skorzeny's picture

lehman is contained

Sun, 03/24/2013 - 19:50 | Link to Comment otto skorzeny
otto skorzeny's picture

2008 crisis never ended-they just threw up some new drywall to hide the rot

Sun, 03/24/2013 - 20:04 | Link to Comment chubbyjjfong
chubbyjjfong's picture

Yeah, and I read the same sought of comments in 2008. Because everyone saw that one coming too right? If you believe that sought of BS then you should be ass deep in the shit that MSM shovels you daily. Its the lack of faith that will destroy the shitshow this time around. No amount of printing can get you out of that sough of hole.

Sun, 03/24/2013 - 19:19 | Link to Comment BlueStreet
BlueStreet's picture

It's been a long year so far so a night is no big deal. 

Sun, 03/24/2013 - 19:20 | Link to Comment asteroids
asteroids's picture

Computers screwing with each other. Real humans will sell tomorrow at the open if there isn't a deal. Fear over greed.

Sun, 03/24/2013 - 19:26 | Link to Comment Zgangsta
Zgangsta's picture

Quick! Someone wake Tom Petty and have him write a song imploring peace in Cyprus!

Sun, 03/24/2013 - 20:35 | Link to Comment Piranhanoia
Piranhanoia's picture

not Tom, but;   "Don't come around here no more, mutti,  don't come around here no more, nein.  No more of your eurowhores,  don't come around here no more.

 Pay it up,  you don't get any longer,  Cough it up

Shutthefuckup,  whatever your looking for,  don't come round here any more

Sun, 03/24/2013 - 21:10 | Link to Comment Van Halen
Van Halen's picture

Screw Petty! Someone get Slayer to write a song - this is their territory, the beginning of the end.

Sun, 03/24/2013 - 19:33 | Link to Comment chump666
chump666's picture

FX market is pointing bullish

ECB and Fed are going all out kill the DXY longs, EUR bid as a lot are holding huge USD positions: http://link.reuters.com/cuj86t

The money printers want you all in, crushing safe havens (well done Cyprus, just vote yourself out!) so you can party with the academia lunatics.

 

 

Sun, 03/24/2013 - 20:28 | Link to Comment Orly
Orly's picture

Greetings, Chump.

I would wait to get long Euros (especially EURJPY...) at the beginning of the American session, when risk-on is the tonic of the day.

:D

Sun, 03/24/2013 - 19:33 | Link to Comment aleph0
aleph0's picture

 

Lighten up with some damn good comedy .....especially at ca. 1:50 in Part 2 :

 

Part 1 : Bird & Fortune - Financial crisis - Silly Money, Nov 08  

http://www.youtube.com/watch?v=lWDdcD-1xoo

 

 

Part 2 : Subprime Banking Mess

http://www.youtube.com/watch?v=UC31Oudc5Bg&feature=player_embedded

 

Sun, 03/24/2013 - 19:38 | Link to Comment stormsailor
stormsailor's picture

1809 hrs and 1919 hrs,  4 point pumps on the es.  stands out like a sore dick.

Sun, 03/24/2013 - 19:45 | Link to Comment The Invisible Foot
The Invisible Foot's picture

HYPERINFLATION....ACTIVATE!

Sun, 03/24/2013 - 19:48 | Link to Comment goldstandard
goldstandard's picture

CBS Market Watch is now reporting a deal with Cyprus has been struck.

Sun, 03/24/2013 - 20:33 | Link to Comment Orly
Orly's picture

It's Fox/Sky WSJ now, not CBS.  Hasn't been CBS in years.

;/

Sun, 03/24/2013 - 19:50 | Link to Comment q99x2
q99x2's picture

Just BTFD. You'll know when to get out when the independent media begins to tweet and report of massive military movement across the US.

 

Sun, 03/24/2013 - 19:50 | Link to Comment zerosum
zerosum's picture

>CBS Market Watch is now reporting a deal with Cyprus has been struck.

Of course they are. How many times has this Sunday night scam been pulled off since 2008? I've lost count.

Sun, 03/24/2013 - 19:52 | Link to Comment otto skorzeny
otto skorzeny's picture

CBS is the black heart of Zionist MSM.

Sun, 03/24/2013 - 19:53 | Link to Comment stocktivity
stocktivity's picture

'herman van rompuy has brokered an agreement between cyprus and the troika' - EU source

11:35 PM - 24 Mar 13

no levies, it's a haircut, probably 40% only on bank of cyprus - EU source

11:36 PM - 24 Mar 13

popular bank being 'resolved', bank of cyprus ok - eu source. not clear what happens to popular's 9.2 bn liquidity loans

11:37 PM - 24 Mar 13

11.45pm GMT

Euro rises on deal news

News that there might be a deal in Brussels has sent the euro rising around half a cent, up at $1.3033 against the US dollar (from $1.297 a few minutes earlier).

Sun, 03/24/2013 - 20:02 | Link to Comment IMA5U
IMA5U's picture

It's now a long nite if you were betting on armageddon 

Sun, 03/24/2013 - 20:10 | Link to Comment Law97
Law97's picture

You would have to have been a fool to short this market over the weekend.  Really there were one of only two possible outcomes:  1) deal reached, market soars, or 2) deal not reached, market dribbles higher on deal "hopes."  The market will go higher, the deal-no-deal drama only impacts when, tomorrow or Tuesday.

 

Has anybody not yet figured out how this works?  I'm just surprised there are still suckerable shorts out there.  Guess there have to be otherwise knowledgeable players wouldn't still be able to front run these moves over and over and over again. 

Sun, 03/24/2013 - 21:51 | Link to Comment Gromit
Gromit's picture

Works until it doesn't.

Sun, 03/24/2013 - 20:10 | Link to Comment ISEEIT
ISEEIT's picture

Its all a market in the end. These fuckers maybe don't understand that we learn? Perv all you like but in the end?? We will fuck you.

Have fun though:)

Sun, 03/24/2013 - 22:04 | Link to Comment WallowaMountainMan
WallowaMountainMan's picture

santelli will not let this go unnoticed.

nor will the old guard himself.

Mon, 03/25/2013 - 02:57 | Link to Comment dojufitz
dojufitz's picture

A long nite....i'm already down to the last third of my bottle of Merlot and its not even 6pm....

Do NOT follow this link or you will be banned from the site!