EUR Spikes As A Desperate Europe Regurgitates Last Summit's Headlines

Tyler Durden's picture

Those following the EURUSD may be surprised by the rather violent spike higher in the past few minutes. Don't be: it is just the same old European unfounded speculation repackaged and regurgitated as headlines, in this case the following:


Or, for those whose event memory has a one week cutoff, the exact same thing that the Euro summit from June 28 "concluded" sending the EURUSD higher by 200 pips, only to see it crash to 2 year lows in the week following after Germany made it clear this was not really the case. Turns out it is not really the case this time either:

  • Details of how the future system will work remain to be negotiated: Commission spokesman Simon O’Connor

Cue responses from Finland, Holland, Slovakia and maybe, just maybe Germany, all of whom agree to disagree, and some of whom even demand collateral even for just EFSF borrowings.

In other words: the EU just resaid what it said originally 10 days ago, while leaving the detail void just as it did at the summit when it announced the MOU. No matter: the algos fell for it an covered to the tune of at least 50 pips. Mission accomplished. Sadly, halflife in thgis particular case: 10 minutes.

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michigan independant's picture

spasm- No matter: the algos fell

GetZeeGold's picture



Musta been the 1000+1 bailout that finally did it.


Quick....snap a picture.


battle axe's picture

Fucking Blind leading the Blind....

GetZeeGold's picture



I don't know what you're doing but I'm following that guy.....not sure where he's going.


Irish66's picture

Birds regurgitate to feed their young

slaughterer's picture

Back from the Hamptons, the banksters wil not like what they see this morning.  Sell. EUR/USD implied delta ==> 1.2

overmedicatedundersexed's picture

alexmai: Rosegren: reports US business is not hiring because of global uncertainty....LOL, more brain washing from the FED. the main factors stopping hiring are . Wash DC, criminal bailouts, failure of creative destruction by the bailouts, no free markets, and to repeat fed and state gov over regulation and taxation. nothing global about it except for the multinational corps who by definition do not worry about hiring in USA.

GMadScientist's picture

Pure and simple lack of aggregate demand (globally).

Occam says, "Srsly?"

q99x2's picture

Rumor eating algobots

pcrs's picture

That advanced knowledge must give some decent speculative possibilities. Maybe pumping and umping it is what is keeping euro banks afloat now.

Sandmann's picture

Watching a Civilisation implode is tedious. Everyone but the Political-Banker Class is aware that the END is nigh but these idiots simply cannot be prised away from the bridge and seem intent on finding the deepest part of the ocean to scuttle the ship

Vince Clortho's picture

Buying time and stashing the jewlery.  

slaughterer's picture

These regurgitron EUR/USD pumps are a real game changer.  /sarc

GetZeeGold's picture



Who could have seen it coming really?


Oh wait.....that would be me.

Quick....snap a picture.

GMadScientist's picture

These are're going to need a Fastax to get anything useful in court.

Bogdog's picture

DRR to the moon.

orangegeek's picture

US Dollar daily chart shows bullish - still - according to elliott wave.

GMadScientist's picture

And your astrologer says Jupiter is in Uranus.