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Dollar Flash-Crashes On Sudden EUR Spike Amid Carnage In Bunds
Driven by no immediate fundamental or news catalyst, EURUSD is spiking (running stops to almost 1.1200) sending the USD index into yet another flash-crash this morning... as the carnage in bunds continues (+11bps to 65bps)...
USD Index is tumbling suddenly...
driven by a spike above 1.1100 in EURUSD... (highs at 1.1196! - 200 pips off lows)
Biggest move in CME Euro futures in at least a year. Today is black line pic.twitter.com/tPofbD7lWD
— Eric Scott Hunsader (@nanexllc) June 2, 2015
Amid carnage in Bunds... (2nd biggest yield spike since 2012)
Charts: Bloomberg
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Thata can only mean one thing.
It's an Indian. And somebody's gonna get a hurt reaaallll bad!
Its all the HF folks getting in their positions before the EU announces the Greek deal, that the official told the HF about the final outcome. Plebs need not apply.
<-- No Greek deal and EU is fucked
<-- Is a Greek deal and the EU is fucked
It's durr stababilitee!
If the Greeks hand over what's left of their cash to the IMF there will be nothing left to hand over to the IMF. They are broke this time.
Paradox time, so everybody get up and dance......
Oh noes...
In the words of Victoria Jewland, FUCK THE EU!
The Euro is in fact the "cleanest dirty shirt" in the pile. Eventually the world will figure this out
I'd equate it more with an explosive vest but hey that's just me.
Fuck the shit pile.
Buy gold and silver.
...and Bitcoin too!
https://btc-e.com
from the perspective of the USD, it's irrelevant if you prefer the EUR or gold/silver
Greece is toast.
I beg to differ. toast is made out of bread, isn't it? ;-)
Still phyzz is more safe than Fiat, USD is backed by (political) promise, phyzz is the real hard thing and crypto backed by math and law of physics.
physical gold is way more safe then anything else, particularly on a long enough timeline. I personally don't trust the math behind crypto, btw
I can´t trust crypto either. Bitgold sounds a bit better, but I´d rather have a Valcambri bar and break off a gram or two as needed.
been buying little 1/10th oz gold coins
price doesn't mater
possession does...
Virtu is cleaning up on all this volatility.
@firstdivision : You're probably correct. Just moar' insiders doing God's Work.
As long as they continue to hit the CTRL ALT Print button there will be a deal. It's guaranteed and nothin' more than the Debt Ceiling fiasco in the U.S. a couple years ago. Everything else is just suspense for the masses.
be interesting to see how much longer Merkel and her Brussels masters can keep Germany hostage to EU hubris and Grecian obstinance and penury
We may well see a Gerxit before a Grexit
Over on CNBC they're saying it's the up-tick in Euro area inflation.
But if inflation is rising in Europe wouldn't that make the Euro go down? Ah, nevermind. Logic is the last thing you can apply to this theatre of the absurd.
And shouldn't PM's have spiked (I mean SPIKED)? As you say, forget logic and fundamentals and welcome to the Matrix...
Must be another Greek rumour which will be officially denied in a further 10 seconds and, if favourable to the PPT, the algos will respond, which in this case (Weaker USD reversal) they probably will. OR, higher inflation in Europe = higher interest rates = stronger EUR? Yeah, like any major CB is about to hike rates!!!
maybe it is the US inflation that is taking down the USD and no viceversa...
SOROS!!!!!!!!!!!!!!!!!!
(in a Kahn-like yell.)
That one works best for a Carl Icahn story.
Lays out pretty well with Tyler's Soros post below.
Weaker dollar makes 'exports' more attractive to other parts of the world.
That is a fallacy.Keynesian fallacy
http://freegoldobserver.blogspot.ca/2014/11/the-biggest-and-most-widespr...
And oil more expensive.
(Sorry)
CNBC?
Bunds rates are spiking because people are beginning to assume the EU will consolidate the debt before the Euro crashes (hence no need for bunds) but the reality is that it's already too late.
"Driven by no immediate fundamental or news catalyst.. " that the comman man is aware of. Its driven by something, you are just not at the level to be made aware.
When it's serious, you have to leak.
Please bring back the NSA bad things are happenings now.
Lol.... you say that like they really went away.
Wow, the jump it gave Silver gives me goose bumps.
And the inevitable smack down will give you the shits.
Yeah silver is surging 3 cents so far ... before it collapses down 12 cents at the EOD.
Fuck you FED, banksters, motherfuckers, and yes Llyod Bankfuck.
Another trillion dollars goes poof!
A trillion dollars isn't what it used to be.
One cup empties into another and evaporation works in every transaction. In 2008 the pair was 1.40EURO to 1USD, today thanks to inflation both holders of USD and EUROs are getting poorer in terms of purchasing power by the day. With the Canadian dollar being a bread basket of both USD and EURO, watch what happens to CAN$ as it acts like a lynch pin between the two FX pairs rapidly see sawing back and forth. Eventually it snaps. (no thanks to Brian Mulroney and his idiot stick conservatives of the 90's, main reason why Quebec wanted to jump ship btw. They knew better.)
The crux of the problem is that all currencies can weaken back and forth all year long, end up roughly where they were when measured against each other and still have much less purchasing power than when they started. That is the dirty little secret that requires gold to be capped. When they finally lose control of the gold rig you will really get to see how much purchasing power they have pissed away by QE, etc.
Does Caitlyn Jenner still have an asshole ?
Down 30 bps! Flash crash! massacre! Big bank bankruptcy alert!
zh is really outdoing Business Insider with the hyperbole and click bait these days, and that's saying something
Your ignorance is showing. The move is bigger than any daily move in the last year (except the mid March flash crash which all accept was a flash crash) but was done in moments with large gaps. If it moved that way on a big announcement it would not be news, but alas.
Your lack of trading experience is showing. I don't care if it's the biggest move in 100 years, if it's only 30 bps it's not even noteworthy (although I did make almost 50 bps from yesterday on my long CAD position).
DXY has gone from about 80 to nearly 100 in a year, now that's noteworthy, almost unbelievable in fact, and pretty much the answer to every gold bug's anguished screams of why isn't gold at infinity already. (Not to mention why oil is trading where it is, you peak oilers and other club of rome 'limits to intelligence' types).
Parity with peso by lunch?
ZWD by the end 'o the week.
http://www.xe.com/currencyconverter/convert/?Amount=1&From=ZWD&To=USD
Anybody notice US 10-years have popped up 7% suddenly?
Markets artificially managed by CB open market operations are succeptable to flash crashes.
King dollar!
[waves hands emphatically]
looks like eur usd made a SHS 1.22 target
For the love of all that is sacred on this entire damned universe
A couple hundred pips is NOT a crash. not ANYWHERE near what a crash actually is , feel , or look like from a very , very far distance .
Coming from a teen born into the keynesian wonderland i would let it go , but here , this is getting ridiculous PLEASE stop it
In a world run by machines, 2 pips is a crash and 100th of a second an eternity.
True.
Though i dare to imagine how would the lastest SNB joke would be qualified .
Probably ..The end of all things , or a celestial singularity
This confirms it, we're in a recovery folks. https://finviz.com/futures_charts.ashx?t=6A&p=m5
Feel that recovery on your face. Look recovery in the eyes while it sprays wealth on your face.
Let's see the Bund at 2.5%, or 3.%!!!
C'mon Janet, raise them rates! 0.5%! You can do it!
The Alamo is under attack from Jade Helm cause Texas wants their gold back.
TSA agents are deemed useless just prior to "multiple bomb threats" or maybe "multiple bond threats".
Tuesday humour warms the heart.
Oooohhhhh..... This headline is full of doom and it looks exciting.... I better click it. Rats, nothing.
I know, we both fall for it EVERY DAMNED TIME. I think I may have a problem.
Me too. Perhaps we should lobby ZH to use a constant scale on charts?
I know I have one, just ask my wife who keeps reminding me . She keeps a list.
And yet Gold stays under $1200 !!!!
You're showing your ignorance, the mighty buck is down 30 bps and GLD is up 30 bps, what's the problem?
We all know the dollar is going to zero (some think it has happened already or should happen by 2 pm this afternoon) and gold, therefore, will be worth infinity.
Following this unquestionable logic, a single gold coin will make you rich, as ONLY gold will rise in value as the buck goes to zero. So you will be able to buy the entire state of California with a silver dime, but why would you want to? Better spent on more ammo, 'cause 10,000 rounds surely isn't going to do the job.
The USDX is down 1.3% and gold is up .3%, you fucking moron.
Going by the chart zh posted the move was 30 bps at the time, and going by zh's track record on these things, that would qualify as a 'flash crash', 'massacre' or 'carnage'.
130 bps is a nice little move but not unusual these days. Hell oil is moving 3% a day with regularity.
Gold only moving 30 bps on such a nice move in the dollar sure does say something: gold sucks, hope you're not too heavily invested.
The elites don't have enough yet, so they are having their banker friends sell naked shorts to keep the price down, Some day gold will erupt like Peter North.
That just goes to show you that the whole market is totally rigged and controlled by a tiny group of people; the banksters.
It must be the new Elon Musk HF trader battery and generator powering up.....good for any HF trader that works out of his basement...
Don't forget with billions of gvt money.
If the recent big moves are a trend which they are, then the trend is only getting started which means BIGGER moves as the trend gets more tenecious.
Got to love the tradng action AND the start of the CB's losing control.
The banksters are crashing the dollar on purpose. Its been on the books for some time now. They aren't losing control at all they are doing it on purpose and yes they have been buying up gold left and right. The only thing that would convince me that its not being done on purpose is if the BRIC nations announce that they have just set up their new bank to challenge the Fed and IMF.
Even when the dollar was at its highest peak you still couldn't buy anything with it. So the whole thing is one big fraud which by the way includes commodities and look at the futures they are raising up the price of food. Assholes!
Funny! News: factory orders down, so stocks down because economy does not looks good. But wait, then the Fed will not raise rates: stocks up? Gee looks like the stock market paradigm is getting more and more confusing. Time to bail out!
The whole market is a Ponzi racket.
Two cents: $TRIN way down, suggesting somebody is quietly mopping up this morning's sell job - on upticks?, despite the price of puts rising. A screaming bull $TRIN, and bear $VIX? Its fucking goofy. The 50-day sure seams like the PPT's line in the sand. Price discoverers (shorts) try to find it, and the FED's own is hitting the buy with a framing hammer. Every fucking time. This sort of shit. It never used to be like this even back in Greenspan's PPT.
It was never even close to this. Nevertheless, this is a good spot for some puts.
Only gold is money.
Well, pricing BUND negative, as to DOLLARS didn't last for long... but dollar hegimony still rules (in Europe).... so the game goes one. Two broke currencies getting reaby for the inflation game. Can China get out in time or is it going to 'play also'.. Russia is already out on the sidelines with Iran. India will undoubtably get dragged into the game. SA is already looking for a two tiered banking world, the one for the rich and the inflationary working guy's economic world.
Can you say Hyper-stagflation? Sounds good if yoi are a gay male with buddies on the 'lowdown'.