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EURUSD Surges As Draghi Disappoints Again

Tyler Durden's picture




 

Promises, promises. A lack of easing, aside from a promise of "lower for longer", has driven EURUSD back above 1.38 as the market is once again disappointed by Draghi's lack of exuberance.

  • *DRAGHI SAYS UNEMPLOYMENT STABILIZING, REMAINS HIGH (umm, continues to rise every month?)
  • *DRAGHI SAYS UPSIDE, DOWNSIDE INFLATION RISKS REMAIN LIMITED (umm, continues to plunge every month?)
  • *DRAGHI SAYS RISKS TO ECONOMIC OUTLOOK ARE ON DOWNSIDE (umm, stocks are at record highs?)
  • *DRAGHI SAYS REAL INCOME SUPPORTED BY LOWER ENERGY PRICES (umm, so no sanctions on Russia then?)

But apart from that, Draghi is "nailing it"...

 

 

We are sure a stronger currency will work wonders for the recovery...

Just how cornered is Draghi - well you decide - after these comments...

  • *DRAGHI CITES LOW INFLATION, WEAK ECONOMY, SUBDUED CREDIT
  • *DRAGHI SAYS ECB EXPECTS RECOVERY TO PROCEED AT A SLOW PACE

So why no "stimulus" - what's he worried about?

 

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Thu, 03/06/2014 - 09:47 | 4516259 Sudden Debt
Sudden Debt's picture

THE TITANIC'S DECK IS LEVELING!!! MAYBE IT WILL STOP SINCKING!!!

Thu, 03/06/2014 - 10:09 | 4516339 waterwitch
waterwitch's picture

That chart would suggest that it's the ship's vertical position stern up--just before the plunge.

Thu, 03/06/2014 - 10:14 | 4516364 Panem et Circus
Panem et Circus's picture

aaaaannnnd its gone!

Thu, 03/06/2014 - 10:23 | 4516399 asteroids
asteroids's picture

Fucking weasel bankster. As long as the DAX, the CAC, and the FTSE all go up, that's all that matters.

Thu, 03/06/2014 - 11:16 | 4516648 furgheddubouddit
furgheddubouddit's picture

So Mario Draghi is the bad guy because he refuses to fire up the printing presses Yellen-style and inflate huge bubbles all over the economy?

Out of all the central bankers, I'd say he's the most sensible. He acknowledges that it's not the central bank's job to artificially stimulate the economy through voodoo economics! It's the fat, lazy and crooked politicians' job to implement the necessary reforms to facilitate new growth.

The high Euro and stockmarkets are due to the irresponsible 'money=toiletpaper' policies of the FED and BOJ, who are currently flooding the European continent with piles of printed Yen and Dollars. Attempting to blame Draghi for that is senseless. 

Thu, 03/06/2014 - 12:05 | 4516915 BeetleBailey
BeetleBailey's picture

Without Germany, the Euro is FUCKED....

Period. No matter what Draghi does or says

Thu, 03/06/2014 - 10:20 | 4516384 williambanzai7
williambanzai7's picture

Thu, 03/06/2014 - 09:48 | 4516263 HardAssets
HardAssets's picture

Hmmm  . . . what's 'worth' more ? . . . .

crap . . or more crap

Thu, 03/06/2014 - 09:49 | 4516265 ptoemmes
ptoemmes's picture

Hey, hey, it's me - Mario - over here.  Pay attention to me.

Thu, 03/06/2014 - 09:53 | 4516287 Sufiy
Sufiy's picture


Eric Sprott on Ukraine Russia War: Capital Controls, Bank Runs, Gold and Silver Forecast 

 Eric Sprott discusses the Gold market manipulation and the set of evidence presented by a number of new reports on the subject. According to Eric, demand for Gold is exceeding available supply and it will power the Gold price much higher. China is buying record amounts of Gold and situation in Ukraine puts more strain on the global economy and its monetary system. Gold is the place you turn during the financial and political distress.

http://sufiy.blogspot.co.uk/2014/03/eric-sprott-on-ukraine-russia-war.html#

 


Koos Jansen: Chinese Physical Gold Demand YTD 369t Up 51 % Y/Y TNR.v MUX GDX GLD RGLD ABX

Thu, 03/06/2014 - 10:02 | 4516302 Non Passaran
Non Passaran's picture

Had to log in from another client just so that I can junk this spammer...

On-topic: this will do wonders for eurozone exporters. Since the US is recovering so well maybe the Fed can deduct another 10 bn. from QE 4EVA. Let's give it a try, Janet!  

 

Thu, 03/06/2014 - 09:54 | 4516288 GooseShtepping Moron
GooseShtepping Moron's picture

OT: Has Bitcoin's creator been ferreted out?

http://www.cnbc.com/id/101469309

Thu, 03/06/2014 - 10:18 | 4516378 Panem et Circus
Panem et Circus's picture

Awesome, thank you. This quote tells me everything I needed to know about Bitcoin:

The Japanese native is described as moody and secretive by family and associates, and has a career steeped in work for corporations and the military.

Arthur Nakamoto, the bitcoin creator's brother, told Newsweek that the developer was a brilliant man who had worked "on classified stuff," yet used a vulgar term to describe his personality.

Thu, 03/06/2014 - 11:33 | 4516745 GooseShtepping Moron
GooseShtepping Moron's picture

You're welcome. I look forward to seeing how this impacts the discussion here at Zero Hedge.

I have always believed that one of the major red flags concerning Bitcoin was the opacity of its creator. People were willing to put their money into this thing and nobody even knew who or what was behind it. Hard-core Coiners maintained that this made no difference at all. Since it was an open source distributed ledger, they said, the creator was irrelevant.

I disagree. The personality and background of this man are extremely relevant. Everything has its origin in a personality. To understand something you must understand the will behind it. This developing story is a big piece of the puzzle.

Thu, 03/06/2014 - 09:58 | 4516301 f16hoser
f16hoser's picture

Draghi/Yellen Rock!

Thu, 03/06/2014 - 10:00 | 4516309 Racer
Racer's picture

Draghi: Inflation Expectations Are Firmly Anchored, They Were Not in Japan Case

DRAGHI SAYS REAL INCOME SUPPORTED BY LOWER ENERGY PRICES

 

So hmmmm, why am I so very worried about my electricity, gas and petrol bills going higher and ever higher?

Thu, 03/06/2014 - 12:28 | 4517037 Ghordius
Ghordius's picture

when you use the word "petrol" it gives the impression that you live in the UK, which is not in the eurozone. perhaps Irish?

Thu, 03/06/2014 - 12:32 | 4517067 Escapedgoat
Escapedgoat's picture

Not all of us are native Brits, you know me lad.

Thu, 03/06/2014 - 10:11 | 4516346 Truther
Truther's picture

Draghi: "We're so fucked we had something drop in our pants... Something heavy"

Thu, 03/06/2014 - 10:22 | 4516392 SheepDog-One
SheepDog-One's picture

Lower energy at all-time record highs.....what are these kooks smokin?

Thu, 03/06/2014 - 10:58 | 4516557 kellycriterion
kellycriterion's picture

The NWO is actually Imperialism 2.0. Confiscate up(while promising trickle down)favors the top of the food chain, in this case the US, rather strongly. Will US western allies begin to notice? Mostly at the bottom not so much at the top.

Thu, 03/06/2014 - 15:31 | 4518132 saulysw
saulysw's picture

When things get serious you have to lie.

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