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Dollar Buying Frenzy As Europe Closes
As Europe closes ahead of a long weekend of excess 'liquidity' and hangovers, it appears someone or something needs US Dollars badly... A sudden wave of selling across all the majors has spiked the dollar index.
and the USD buying is across all the majors...
And of course a tumbling JPY is soo bullish for stocks... with S&P perfectly ramped to VWAP...
Charts: Bloomberg
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As I just commented on another article, 2016 is the year of the Dollar. Like it or not this is bearish for everything else for the time being. I do hold physical PM just in case of coarse.
Someone's Derivatives - possibly oil - are imploding...Since they are priced in U.S. Pesos it creates a synthetic demand to settle the Derivatives.
They need dollars? Well, of course! They need a bunch of confetti for bringing in the New Year! Silly!
Reminds me of the scene in Batman (1988) when Jack Nicholson is throwing money out of the float.
@LoneStarHog Funny that you brought up that little fact that the "$" sign is in fact the Peso sign. I have heard that a while ago and looked into it, it appears true. Can you elaborate on it? It would be fun to write a letter to an insurance company and ask them why they are billing you in Peso's just to see the response.
Is this it? Is this the contorted mess they have to go through now to get the market green?
Never a doubt. It's all uphill from here, to be green for the day and year.
SAIEW.
Magic, pure magic, but it's getting tougher to pull a rabbit out of their ass whenever they need one.......
Americans own a lot of things in Europe. When they panic (or need money quickly to stay solvent), they sell shares of European companies and convert euros to dollars. The same thing has already happened in 2008.
Stronger dollar is now good for commodities and S&P? LOL
Indexes will close green or flat
No it's not good for them in fact the strengthening of the dollar is creating a feedback loop further decimating the emerging markets and will further deflate commodities that in turn makes more people run to the dollar. A cycle that will not end anytime soon.
The USD is a ticking time bomb.
I agree but there is still time left on the timer and right now compared to the other currencies its the best car in the lot. I am surprised at the Yen strengthening but I don't see it lasting long given the track record of the Japanese central bank.
I was caught off guard by Yen strength. Had to readjust my portfolio, accordingly (the nice way of saying, cut my losses).
The more chaos in the world, the better for dollar. So if there is enough wars and chaos, dollar might not collapse.
In stable, peacefull word is the hyperinflation in the USA inevitable.
Yet most USD pairs are flat or falling? With the notable exception of USD/CHF.
Drudge Headline: Huh? WTF...Premature ejacumation.....
GOODBYE, 2015: STOCKS SOUR ON FINAL DAYMan Janet really isn't good at the whole PPT thing.
Hardly a frenzy. As I write, the USD index is showing an increase of a third of a percent. Big deal!
Yes, this site sensationalizes things, just a tad.
Month end MSCI rebalancing, right on 4pm GMT
$ up au down try & learn that zh
So what happens on Monday? To the gold price, I mean. I *was* going to have to sell enough (physical) gold today to pay the nursing home bill, like at the end of every month.
I already had the check made out, but hadn't gone to the coin shop to sell yet. At the last minute I decided to stall for time by making a partial payment (what I could raise *without* selling any gold, yet).
It's a gamble that the gold price might go up Monday, and I'll get more FRNs for it. Is there any realistic chance of that?
I suppose it could just as easily plunge even lower, though at this point I'm not sure it would make that much difference, since it's all nearly gone now anyway. If it had been fairly valued it should have lasted me *many* years, maybe the trest of my life, but ...