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Markets 1 - 0 Draghi - EURUSD Rallies Back To Unchanged

Tyler Durden's picture




 

A mere 2 hours after Mario Draghi unleashed a slew of liquidity providing, currency-war-fighting, inflation-boosting, but not expropriating savers, policy maneuvers, EURUSD has rallied all the way back to 1.36... the level at which it traded before he dropped his tape bomb. Just as we noted in the early morning, absent a full-scale QE it was a disappointment for the 'priced-in' jawboning, "which means the EUR will ultimately move higher after a kneejerk lower as the market forces Super Mario to do even more next time." Sure enough, that is happening...

 

 

Charts: Bloomberg

 

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Thu, 06/05/2014 - 10:02 | 4826627 Central Wanker
Central Wanker's picture

It's Hyper-Mario, not Super-...

Thu, 06/05/2014 - 10:07 | 4826640 Millivanilli
Millivanilli's picture

Mario needs to double down. It worked for Japan. Oh, wait...

Thu, 06/05/2014 - 11:09 | 4826836 wallstreetapost...
wallstreetaposteriori's picture

**Update** Markets win and Draghi wins.... everything is bat shit crazy.... Market mechanisms are completely broken.

Thu, 06/05/2014 - 10:25 | 4826704 whatsinaname
whatsinaname's picture

Interesting times.

Thu, 06/05/2014 - 10:03 | 4826630 fonzannoon
fonzannoon's picture

The Euro was at 1.40 when he dropped the hint. It's still mission accomplished for him.

Thu, 06/05/2014 - 10:10 | 4826637 HUGE_Gamma
HUGE_Gamma's picture

ive been trading EUR for 10 years.. considering its been around 1.35 "forever".. the move from 1.40 in the past month was epic..

Thu, 06/05/2014 - 10:28 | 4826719 NoDebt
NoDebt's picture

You know, I'm getting very accustomed to nothing happening. Except gold dropping and the S&P going up, of course.

In fact, I'm getting sleepy.  Very..... sleepy..... <yawn>.

Thu, 06/05/2014 - 10:04 | 4826635 Aknownymouse
Aknownymouse's picture

Fuck you all central bankers

Thu, 06/05/2014 - 10:06 | 4826636 Spungo
Spungo's picture

They should just pass a law saying all trade with countries outside of Europe cannot be done in Euros. Bam, value of the Euro crashes.

Thu, 06/05/2014 - 10:10 | 4826645 dressguard
dressguard's picture

The central banks should stay focused on dropping the gold price. That gives them leverage. Everything else fails. So this move from the ECB today was clearly a shot in the foot.

Thu, 06/05/2014 - 10:08 | 4826647 pound the vix
pound the vix's picture

I can't believe how well they are keeping S&P from dropping.  This is what happens when a few people have unlimited cash

Thu, 06/05/2014 - 10:09 | 4826649 NDXTrader
NDXTrader's picture

Just highly choreographed moves to shake everyone out before futures expire next week. Prediction: We do just the opposite tomorrow after the payrolls report - plunge on the report and then buying all day. The only thing that matters now is screwing everyone before next Friday

Thu, 06/05/2014 - 10:12 | 4826664 Al Huxley
Al Huxley's picture

June is 'No POMO Fridays' month, so Janet and her flying monkeys better get their asses in gear and give us a good day today, because if we go into a no free money day on a down-note that could fuck up the whole 'improving economy, no inflation, everything's coming up roses' , magic voodoo bullshit vibe that's driving everything right now.

Thu, 06/05/2014 - 10:22 | 4826692 pound the vix
pound the vix's picture

No need for POMO on Fridays during the summer.  Bankers always juice thier p&L on Friday to support their $1000 an hour Russian hooker and the helicopter ride out to the house in the hamptons for the weekend

Thu, 06/05/2014 - 11:18 | 4826863 Callz d Ballz
Callz d Ballz's picture

Yep, just a freak show now.

Thu, 06/05/2014 - 10:10 | 4826652 Al Huxley
Al Huxley's picture

Where the fuck is Janet!?!  I see red on the indexes!  Fuck, I thought you had our backs Mrs Debtfire!

Thu, 06/05/2014 - 10:27 | 4826718 whatsinaname
whatsinaname's picture

You mean it is really HE not SHE ? I kind of had my "doubts" too about Mrs Debtfire .. funny indeed.

Thu, 06/05/2014 - 10:44 | 4826769 BeetleBailey
BeetleBailey's picture

leviating up now at nye onto 11.....teensy, weensy, itsy bitsy VOLUME

=

MORE MUPPET BUYING....

Thu, 06/05/2014 - 10:10 | 4826654 Sudden Debt
Sudden Debt's picture

Which is good because during the summer, people love cheap dollars to go on vacation!

Draghi wouldn't DARE to spoil the people's vacation!

Thu, 06/05/2014 - 10:11 | 4826656 dressguard
dressguard's picture

Look at the DAX and you know the story of the day.

Thu, 06/05/2014 - 10:12 | 4826660 youngman
youngman's picture

All the talk this week about how important this announcement was going to be....kind of fell flat....if it was a move..it would be a flop....

Thu, 06/05/2014 - 10:12 | 4826662 Doom and Dust
Doom and Dust's picture

Dear Americans,

Please keep your runaway jewry and their jewified cronies within your own borders. Let them rape, pillage and plunder your homeland. We Europeans did our best to weed them out. You wouldn't let us. Now take care of your own fucking jew problem.

Thanks, A.H.

Thu, 06/05/2014 - 10:12 | 4826663 tommylicious
tommylicious's picture

Dees-a' currency market is a-makin' me a-crazy!

Thu, 06/05/2014 - 10:19 | 4826681 orangegeek
orangegeek's picture

Central banks buying up with their fiat - problem is that when this trend exhausts, there's few to sell to.

 

Have fun with that banksters - you're just playing with yourselves.

Thu, 06/05/2014 - 10:26 | 4826708 huggy_in_london
huggy_in_london's picture

Boom... look at those shorts get stopped out!  1.3640.  Nice work Mario...nice

Thu, 06/05/2014 - 10:27 | 4826714 discopimp
discopimp's picture

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."  subsitute America for Euroland...

Looks like the Central banks are making the last push to stuff banks worldwide with enough fiat, and that of there depositors, to buy back those same depositors homes for pennies on the dollar/euro/_hit fiat of choice

 

Thu, 06/05/2014 - 10:31 | 4826731 timmeh
timmeh's picture

buy the dip, and go to sleep!

Thu, 06/05/2014 - 10:47 | 4826776 BeetleBailey
BeetleBailey's picture

<---BUY HIGH/GET HIGH/WATCH TV/LAUGH

<---SELL HIGH/GET HIGH/CURSE/LAUGH

....shake head and wonder when the end will be....best guess?

..when no one expects it....

Thu, 06/05/2014 - 10:56 | 4826798 Debugas
Debugas's picture

thank you mr. Draghi but i will wait until my bank pays me at least 10% annual when i borrow money from it to buy some shit which is overpriced by 20+%

Thu, 06/05/2014 - 11:17 | 4826861 tmfp
tmfp's picture

It was a classic "buy the rumour, sell the news" pump and dump day. The Dax went from 9910 up to 10010 in the middle of his press conference, then back to 9910 an hour and a half later.

I shall be able to afford to buy a nice bottle of italian wine on the strength of that, and will drink to Draghi's painful death.

Thu, 06/05/2014 - 11:23 | 4826886 Space Animatoltipap
Space Animatoltipap's picture

The currency competition is a tragical rat race with only one winner; monies. Which means gold and silver.

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