The EUR-USD Rollercoaster Goes Down As The Goldman Stop Losses Are Triggered

Tyler Durden's picture

Earlier we warned everyone that the Goldman stop loss triggers were if not hot then would be any minute. That just happened and the EURUSD tumbled a good 40 pips in seconds as soon as the several supporting bids just below 1.35 were finally eradicated, bringing the Euro to a 5 week low. And as a reminder, tomorrow we have some very interesting Spanish and French bond auctions (for full list see here). As another reminder, both closed at record spreads. Better set that alarm for 2:45 am: things are getting dramaminy once again.

Last few minutes:

And the damamine nightmare since the beginning of August:

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johngaltfla's picture

<<<< KABLOOEY >>>>

And EUR/JPY ain't much better, 103 is now in danger of going buh-bye....

flacon's picture

Glad I am fully vested in the barbaric metals, gold and silver. No worries for me tonight. Let the world burn...

Popo's picture

Time to get everyone out of equities and into currencies.   Centrally-planned equity-market flash crash in 10...9...8...7...




Nate H's picture

how many Tylers are there. You (guys) are prolific....(and entertaining, and often right...;-)

Unprepared's picture

The whole is bigger than the sum of the parts

sabra1's picture

that's what i said about janet napolitano! more cheese anyone?

Ted K's picture

Holy Moley that's a lot of holes!! 

Janet got a hole lotta love. Only I think Janet saves her hole for Jill.

Steroid's picture

Don't you remember Fight Club?

Tyler is insomniac!

Popo's picture

Except in the movie there wasn't a whole staff of Tylers.

Sequitur's picture

The first rule is . . . .

Vampyroteuthis infernalis's picture

...... never talk about Fight Club.

mynhair's picture

Who is Jennifer Aniston?  And why should I care?

lolmao500's picture

Jennifer Aniston is the hot chick that was married to Brad Pitt when Fight Club came out.

Ted K's picture

Jennifer Aniston is like the girl next door who only does it missionary style.

dpr10's picture

appearances could be misleading bud::))))

Johnny Yuma's picture

Now, a question of etiquette - as I pass, do I give you the ass or the crotch?

vato poco's picture

Which brings us round full-cricle to the Jen Anniston vs. Angie debate. They're both hot, but Jen's a little porcelain princess - so she'd be the crotch, on the bed, eyes clamped shut, all the lights off, thinking of England. Angie's such a freakazoid they don't have a word for her yet - she'd be the ass. With toys, handcuffs, fists, a couple of her best girlfriends, maybe her brother, and cameras rolling from every angle.

Guess Tyler's an ass man. You could see it coming, right there in the movie. "Man, you've got some fucked-up friends, I'm tellin' ya. Limber, though..."

disabledvet's picture

if it helps: "i am not one. but i am many."

Future Tense's picture

Larry Fink summarized it perfect this morning.  Europe's liquidity is vanishing, and they are on the verge of a catastrophe.

surf0766's picture

Didn't he create the first MBS? I could be wrong.  But really, who cares what he says.

SDRII's picture

The only thing noteworthy in that interview was when he was asked about his role in the MF situation for which he stuttered and then recused himself.

surf0766's picture

I would not expect anything different. Thank you .

FlimFlam's picture

And the press is worried:


Interpretation: GS stop losses at 1.35 because it knows hedge fund Euro attacks are escalating into the endgame.  It is the US dollar, actually, that cannot be propped any longer, hence the Euro attack, hence the stop loss requirement.  Ouch, ouch.

FlimFlam's picture

And one further contextual piece.  Greece was downgraded when?  When the US dollar began tanking.


Assume the US dollar's fall is inevitable (I mean, really ...).  What's a financial industry to do in the face of that?  Grab assets (read: attack the Euro, apply austerity worldwide).  The implication, here, not missed by people around the world facing austerity, is that this debt-fight we're now witnessing has no solution.  Many on this site know it has no solution.  Many in the know (Dalio ad almost infinitum) know there's no solution.  One is left with just a bit of time to grab as many assets as possible.  GS stop-lossing at 1.35 is an attempt to keep the Euro from falling too quickly before assets are grabbed. 


Major change coming.  That line in the sand has been crossed.

tim73's picture

Mostly American primary dealers are trying to talk down euro. They are responsible for buying all that US debt coming out 75-100 billion dollars worth per month if nobody else buys.

So naturally they are talking down competitors in Europe in order to keep the demand steady for FED crap paper. I'd bet there are a huge army of economists ordered to do just that in many banks.

"ITALY IS SELLING WHOPPING THREE BILLION EUROS! LOOK OUT!...(and btw, look here, we are trying to sell a little bit of USA debt, only 35 billion dollars)"

FlimFlam's picture

Yah, that makes sense.  It was hedge fund reps (incl Soros) + big bank reps that met secretly in Manhattan to talk about the Euro.  The very problem driving those meetings is what you say.

zorba THE GREEK's picture

Failure of the Super Congress to pass a credible bill could send the Euro soaring

back up against the dollar. 

CapitalistRock's picture

Actually it's the other way around. Failure of the super committee will trigger the default spending cuts. It's highly deflationary. That would mean the dollar would tend to move up against other currencies.

At least until the fed speaks of more QE.

CrashisOptimistic's picture

If they produce nothing, the sequester event is not until 2013 and all effects are delayed.

If they produce anything at all, it will be hyped bullshit and not real and will involve savings over 10 years, backloaded.

zorba THE GREEK's picture

If Congress comes up with zilch, they could always vote to delay the trigger cuts.

The whole trigger idea was just BS anyway, they are not going to allow massive

defense cuts with the world involved in so much conflict. Any real spending cuts

and new taxes will not take place until after the elections, and when they come 

due, will be put off again, just the way they have extended the Bush Tax cuts.

The debt and deficit spending will never be addressed by politicians until there

is a major collapse and they have no other choice.

Cap Matifou's picture

The self elected Central Committee of the USSoA may decide what they want, but it will not save your sorry hide.

Matt1973's picture

Drop it like its hot

chump666's picture

hahaha goldman.  brutal USD bidding across Asia.  Happened yesterday same time after the CNY fixing.  Gold is getting smashed.  this a deflation trade out of Asia.  Nasty

lotusblue's picture

A Clockwork Orange.

It is eery tonight,as if.......

Anomalous Howard's picture

More Japan intervention on the way?

Let 'er rip

rumblefish's picture

Good..... Now let's get the market to head south so my shorts can pay off.....

Matt1973's picture

yeah, lets get this train wreck over with

tekhneek's picture

No shit right? The only thing worse than being a perma-long is never knowing when to be short.

disabledvet's picture

just when you think The Squid's out of tentacles "he comes forth with a new one and starts choking that thing!...OVER THERE!" Normally he's called the lawyers by now and "dropped ink" as they say. Not this time though! He's rather determined and ain't lettin' go! And the mighty Sperm Whale is just hangin' out in his living room this time "content with just the little fishies." Where's "Hank and the Killer Sperms" this time? I mean "it's your favorite meal Mr. Whale!"

propflow's picture

sweet! im ss a ton. Lets crush this ponzi fiat currency!

GritMonkey's picture

*Ding Ding* $SPX Elevator - next stop 1st Floor

Schmuck Raker's picture

"Oh, good morning Mr. Tyler.

Going DOWN ??" ;o

??'s picture

Just watched (by accident) CNN report on OWS

Mother FCKING Bloomberg banned the press from the eviction

and here on ZH we had EconMatters (contributor extraordinaire) encouraging said eviction

so EconMatters this is for you


Matt1973's picture

#Looser;  fun over

ForTheWorld's picture

I'm assuming (as opposed to presuming) that you meant #Loser.

Loser: "You're such a LOSER man!"

Looser: "Baby, can you make this choker a little looser please?"