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FX Markets In Turmoil On Scottish Vote & Japan Economic Downgrade
Cable (GBPUSD) is surging as the first results from the Scottish Referendum hit and a resounding "No" to independence appears confirmed. Almost back to pre-Scottish-Vote-fears level (1.66), cable is up 250 pips in the last 24 hours (its biggest move in over a year). GBP is also strengthening notably against EUR (2-year highs), CHF (2 year highs) and of course the JPY (6 year highs) as the Japanese government admits defeat and downgrades its economic assessment for the first time in 5 months (hence sell JPY as they 'must' do more money printing (despite Japanese businesses all pushing for a stronger JPY). FX markets are extremely volatile this evening and implicitly, equity futures are clanging around cluelessly. The USD Index is flat (gaving retraced all FOMC gains).
Chaos in FX tonight...
GBPUSD is retracing all the Scottish vote fears...
And GBPJPY punched through 180 (as USDJPY broke 109)
As USDJPY is up 2 big figures from pre-FOMC...
After Japan downgraded its economic assessment for the first time in 5 months...
- *JAPAN GOVT CUTS SEPT. ECONOMIC ASSESSMENT ON WEAK CONSUMPTION
Abe, you have a problem (as the Sont CEO recently explained)
- *MOST JAPAN COS. WOULD PREFER A STRONGER YEN: REUTERS SURVEY
Because nothing says Buy The F##king Parabolic Meltup in today's new normal like an economic downgrade...
Gold is also sliding (except in JPY terms of course) - driven more by Japan than Scotland
Charts: Bloomberg
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http://imgur.com/3JwUUrH
gold down??? thank g-d I just buried a box of fiat in my backyard for my kids to dig up in 20 years
Japan still AAA......winning
Japan, land of the sinking sun.......
<---Cant wait till my state votes
<---Cant give a rip
The Scottish YES vote = young ppl that want to make their own future.
The Scottich NO vote = a bunch of old farts voting soley for their pensions and who don't give a fuck about independence...or the future.
Guess they can take your freedom.
Scottish vote is very regionalized so do not count chickens just yet.
usd/jpy = levered exposure to sp500. im gettin rich bitches, just BUY BU BUY
a trade also endorsed by kyle bass
Why the fuck would Gold go down because of Fucked Up Japan !!!
It's going down because today is Thursday. It will go down because tomorrow is Friday.
What currency is gold priced in? Last I checked it was still the FRN dollar up gold down.
Of course that shit makes no fucking difference anymore it's down because the Satan worshipping cocksuckers that own the banks that own the FED want that shit to be down, they want their fucking gold.....all of it, they will even trade worthless paper for it, just ask them.
because fundamentals and prudence are barbaric relics
I used to be 'indifferent,' but now I don't give a Rat's Ass seeing how fraud-saturated the manipulated markets are.
However, there is hope; I see despite China's CB printing another half trillion RMB did not stop their house prices from plunginig for yet another month ... now nto only the 4th month in a row, but the prices now extend to an even wider range of major cities.
This shit is great!
Alibabalyon is getting ready to have alit fuse, and the pound & the dollar are screaming on nitro.
All that liquidity has to find a home....Woo fucking Hoo this shit is going vertical!
BTATH /s
Finally my long GBP/JPY position is starting to pay off. Been getting rocked for the past 10 weeks.
Have faith everyone and stick to your guts.
Also I'm glad gold is going down further so when I get rich enough I can cash out and buy gold for cheap.
The FX market is as rigged and manipulated as any market, so obviously any explanation for how it acts is simply total bullshit.
Yes it's rigged, so try to figure out what the riggers want to happen and follow along.
indeed. im so glad there is so much 'social media' trading these days, its quite entertaining! :)
all markets are indeed rigged, some are just more rigged than others (forex, epecially) ...but for those of us who like to trade exotic crosses, the spot brokers are the way to go cause you need the big bucks to trade otc fx derivatives and the currency futures only cover the majors.
...my friends friend followed 'tastytrades' social media options trading feed and lost a bunch of money. when i start trading options im going to use this to my advantage as well. what a bunch of pikers and faggots
oh..and BTFD!!
Debt is the new gold! Just ask Mr Yellin.
Clueless equities ??? ... my end of last week bought NAZ position made new ATHs tonight and - honestly - is pretty straight up. So what?
But maybe someone just can't bear it anymore - that he is soooo wrong on Indices and stocks all the time. But hey - someone (clueless) has to fuel this rally to SnP 3000 - not? But as long as there are such hard core 24 x 365 perma bears (like Flecky and ZH) i sleep like a baby.
Keep on trolling ...