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EURUSD Up Modest +30 Pips Despite Latest Weekend Rumormill

Tyler Durden's picture


Our guess is they were hoping for a little more than a 30pip lift out of the gate...Have no fear though...



Chart: Bloomberg

Unfortunately, once the market realizes just what the forward sovereign issuance calendar looks like, especially with a barrage of bond auctions from freshly downgraded Belgium tomorrow, not to mention one of the heaviest new issuance weeks until the end of the year, we doubt this + print will stay for much longer:


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Sun, 11/27/2011 - 14:30 | 1918047 GeneMarchbanks
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Sun, 11/27/2011 - 15:02 | 1918188 Sudden Debt
Sudden Debt's picture

Three. Onethousand
Four onethousand
Five onethousand

We're losing it doc!

Sun, 11/27/2011 - 15:12 | 1918221 Nobody special
Nobody special's picture


It's hard to be more stable than zero.

Sun, 11/27/2011 - 15:15 | 1918232 GeneMarchbanks
GeneMarchbanks's picture

you mean zeuro of course ;)

Sun, 11/27/2011 - 15:28 | 1918275 Manthong
Manthong's picture

Hot dang!

Big bucks coming from all those SPY longs I put on at 12:59:59.9999999999999 p.m. Friday.

Sun, 11/27/2011 - 15:42 | 1918322 Ahmeexnal
Ahmeexnal's picture

So a greek debt 50% haircut was not considered a CDS trigger. What about the 75% haircut now being proposed by Greece, Ireland and soon Italy?
Since it will be a voluntary haircut, it won't qualify as a default.

Voluntary 75% haircuts. Why not go the full voluntary scalping?
Now there's an idea. Voluntary scalping for the oligarchy!

Sun, 11/27/2011 - 15:49 | 1918351 French Frog
French Frog's picture

I did wonder on Friday if the last minute dive was fake as there has to be a certain amount of 'shorts' who have been feeling quite comfortable in recent sessions and are probably ripe for picking.

Euro up above 1.33 as I type so are we heading for yet another short covering on open followed by meltup Monday that will leave anyone with some sense (plenty of those amongst ZH's ranks) scratching their head at the ability of market makers to defy gravity?

I hope not, but I have seen it happen enough times in the last 2 years

Sun, 11/27/2011 - 16:22 | 1918473 Divine Wind
Divine Wind's picture

Your avatar flipping back and forth is causing an inordinate surge in electrical signals being sent from the rods in the periphery of my retinas to the visual cortex of my brain. This results in the frequent, involuntary shifting of my gaze to the avatar, making the reading of your comments challenging.

What is cool though is that if you blink your eyes fast enough you will perceive a full grid.




Sun, 11/27/2011 - 18:25 | 1918813 Manthong
Manthong's picture

I had a half dozen December puts stacked to close..

It takes me about 3 or 4 seconds each to execute and confirm and move to the next one. Since the machines did the exact same thing on Wednesday, I held through the ramp at 11:45.

I waited as long as comfortable through the waterfall but I wanted to make sure it was all done in time.

The last one executed at 12:58:39, and had I delayed the sequence about 30 seconds, I probably would have made another 100 bucks or so.

It went down about 8 points though the closing and into the after hours.

I commented in another thread that this is BS and ugly..

The game is rigged, but like Diamond Jim said "It's the only game in town".

Same as Vegas but I have to pay for the drinks and my house booze is better.


Sun, 11/27/2011 - 16:32 | 1918513 disabledvet
disabledvet's picture

I demand attribution! I came up with this term two years!

Sun, 11/27/2011 - 17:33 | 1918704 Eurodollar
Eurodollar's picture

If ECB wont print, the IMF doesn't have money and the EFSF remains the joke of 2011 why not replace the Euro with the dollar and let the FED who never says no to a good printingfest take over for both continents. Bob can chair the Eurozone too. Not only the US. To be sadly honest I actually think he'd do a better job :) To be furthermore honest; Americans and Europeans.. We have history together. Some may not want to live in a EU governed by Germany. I don't want to live in a unstable world with fundamentalism and growing countries with imperealistic histories and little democracy.

I know sovereign identity is important and nice. We all need something to cheer for when the olympics are on, but its at least worth a think.

Sun, 11/27/2011 - 15:23 | 1918254 macholatte
macholatte's picture



Probably THE most important quote of the past 6 months. It tells the tale that TPTB have made the decision to sacrifice the USD (and the Americans) and make the EU the center of the universe regardless of how completely screwed up it is.  Soros has been promoting the Euro as the reserve currency for years. It is the NWO wet dream. Reality is that the EU is the perfect example of why the NWO won't work unless there is totalitarianism, complete loss of sovereignty, which is where all this is going unless the sheeple stop grazing. JMHO

Sun, 11/27/2011 - 15:36 | 1918308 GeneMarchbanks
GeneMarchbanks's picture

That's a bit of a leap you're making. A near € collapse and then install it as the reserve? Highly unlikely. You might be overestimating Soros & Co.

Schaeuble talking his book. No more no less.

Sun, 11/27/2011 - 16:14 | 1918444 macholatte
macholatte's picture

EUR/USD @ $1.32 is nothing close to collapse. Ask yourself why it's that high given all the bad shit going on. You will probably conclude it is manipulated. Yes? Also, at just the hint of something positive the USD falls with a great deal of force while all the negative truths cause the USD to "appreciate" gradually. Germany is a big exporter. Why would they want a high Euro? If the Euro was at $.8o wouldn't that make the debt cheap?

I'm just an observer. Leaping is what I try not to do. Asking the right questions and drawing the right conclusions (quite difficult these days) is what's important which is why I read ZH. 

Sun, 11/27/2011 - 16:23 | 1918480 GiantVampireSqu...
GiantVampireSquid vs OWS UFC 2012's picture

Supply and demand simple, the fed creates unlimited supply, the ECB does not (relatively speaking of course).

Sun, 11/27/2011 - 16:42 | 1918545 GeneMarchbanks
GeneMarchbanks's picture

The major currencies are manipulated to a great extent of course. However, what I was alluding to was the media outcry about an imminent collapse. See here:

Then you carry on:

'Germany is a big exporter. Why would they want a high Euro? If the Euro was at $.8o wouldn't that make the debt cheap?'

I'm not even sure how to go about answering that but I'll say this much: Germany is an exporter that already has a 'cheap' currency in the euro. Some estimates suggest the DM would be well over $1.60 so they already have what they want. The problem is maintaining it there with Italy imploding. Your suggestion about an $.80 would mean a US default.


Sun, 11/27/2011 - 17:07 | 1918634 macholatte
macholatte's picture

Your suggestion about an $.80 would mean a US default.

How do you figure that? (asking the right question, perhaps). The USD is not pegged to the EUR. If it is, then the EUR is already the reserve currency.

I'm not sure that the Germans think they have a cheap currency with the EUR. But again, there is a reason the EUR is propped up.... for now. Maybe they need time to convert. If Germany bailed out, the EUR would certainly crash. So what happens to everyone else? My thesis is that TPTB are aware of this and are planning for an orderly crash or, a more sinister ploy; usurping sovereignty out of the chaos to come. In the mean time it is clear that they are doing everything possible to buy time, which is exactly what they should do.


Sun, 11/27/2011 - 17:18 | 1918666 GeneMarchbanks
GeneMarchbanks's picture

See what is owed. If .80c bought you a € you would see chaos.

Sun, 11/27/2011 - 19:01 | 1918948 macholatte
macholatte's picture


Thanks for the chat, Gene.

Sun, 11/27/2011 - 18:01 | 1918790 Ghordius
Ghordius's picture

The GamePlan?

1.30 December 2011, then up to 1.40, I'd say per Easter

You are under the spell of this "meme/theory/idea" that "the EUR" is dying - this is the biggest speculative "short sell" since long.

Some reasons: 1. A default does not "kill" a currency, historically, particularly a "partial default" (for example of a region). 2. Now even the German Bund is "under attack" - so any breakout of Germany or the Netherlands just stopped being an option. 3. Too many people in Europe might wish for other countries to leave the EZ - but want themselves to stay in.

JIMHO: We will see how suddently all news will be about how resilient a multi-country currency is and how exposed a single currency/market/treasury is. At the end, the Europeans will prefer to hang together instead of hanging separately.

We are back in a phase where the medium three (Germany, France and Italy) and the small three (BeNeLux) are "in synch" and are willing in find solutions. This happened only once, at the Treaty of Rome. The only serious threath is a splitting in EZ/non-EZ.

I seriously believe that growing up in an Anglophone country with Common Law shapes the thinking in a different way, when it comes to understand politically what citizens want from the State (or Confederation of States). It all boils down to a different history and how this shapes people "politically". No judging, just different.

We have a German Pope, an Italian Central Banker, we might have soon a Dutch Finance Minister, and the list can go on...

Sun, 11/27/2011 - 15:57 | 1918385 Ahmeexnal
Ahmeexnal's picture

It's amazing how the germans are quite blunt and in-your-face about their plans to subjugate the continent and yet the sheeple fail to defend themselves. Merkel recently had one of her junta thugs state that "Europa spricht deutsch"

A nuclear Germany is far more dangerous than a nuclear Iran.

Sun, 11/27/2011 - 17:02 | 1918621 GiantVampireSqu...
GiantVampireSquid vs OWS UFC 2012's picture

up 100 pips

Sun, 11/27/2011 - 14:31 | 1918053 oogs66
oogs66's picture

negative by 7 pm, at the latest :)  1.29 this week?

Sun, 11/27/2011 - 14:52 | 1918150 bank guy in Brussels
bank guy in Brussels's picture

It may yet be tricky, to short the EU Mint

Even though they likely are going to Print.

Sun, 11/27/2011 - 15:43 | 1918335 Ahmeexnal
Ahmeexnal's picture

You just need to know which pair to short.

Sun, 11/27/2011 - 14:38 | 1918087 RmcAZ
RmcAZ's picture

Hey wait, this isn't Friday Afternoon Humor.

Sun, 11/27/2011 - 14:40 | 1918090 xcehn
xcehn's picture

lol.....Tis the season to maximise the gain on hopium.

Sun, 11/27/2011 - 14:54 | 1918092 Smithovsky
Smithovsky's picture

copy and paste, clicking doesn't work for some reason




ps i see junking people 

Sun, 11/27/2011 - 14:42 | 1918098 Dick Darlington
Dick Darlington's picture

Dick Darlington says: " Shauble is more delusional than ever"

Sun, 11/27/2011 - 14:43 | 1918107 Byte Me
Byte Me's picture

Just another chace to (re) re-short.......

Sun, 11/27/2011 - 14:46 | 1918118 Boston Wealth
Boston Wealth's picture

Trifecta of good news to ramp up futures at open



Sun, 11/27/2011 - 15:31 | 1918284 Randall Cabot
Randall Cabot's picture

And don't forget Black Friday retail sales up 7%!!!! HUGE rally ahead!!!

Sun, 11/27/2011 - 14:46 | 1918121 Great Depressio...
Great Depression Trader's picture


Sun, 11/27/2011 - 14:47 | 1918129 Smithovsky
Smithovsky's picture

very funny

Sun, 11/27/2011 - 15:04 | 1918201 earleflorida
earleflorida's picture

if the 'schaeuble' fits,  wear it

Sun, 11/27/2011 - 14:47 | 1918128 bank guy in Brussels
bank guy in Brussels's picture

Our Belgian bond, the OLO, is not actually because of 'Oh? LOwer!' pricing, but is named bi-lingually to accommodate our two major national languages, French and Dutch. (German is also an official national Belgian language, though native German speakers are a small group here.)

The 'OLO' stands for « Obligation Linéaire - Lineaire Obligatie »

Belgian OLOs on sale tomorrow! Get 'em while they're hot! Like our Belgian waffles!


Sun, 11/27/2011 - 16:44 | 1918555 disabledvet
disabledvet's picture

Sorry. I've already had my Thanksgiving Day waffle. I'm stuffed. Thanks for the offer tho!

Sun, 11/27/2011 - 14:56 | 1918171 Cdad
Cdad's picture

Euro dollar pops based on rumor reiterations [x 20] are not an investment thesis.  Desperation, clearly.

Sun, 11/27/2011 - 15:00 | 1918184 Sudden Debt
Sudden Debt's picture

Schaeuble... :) who listen to a guy with a name like that :)

Sun, 11/27/2011 - 15:04 | 1918204 Byte Me
Byte Me's picture

Yeah... Sounds more like a wardrobe manufacturer.

Sun, 11/27/2011 - 15:10 | 1918215 Mike2756
Mike2756's picture

So! You want to get rid of President Ward Robe, eh?

Sun, 11/27/2011 - 15:14 | 1918231 Byte Me
Byte Me's picture


Needs replacing by (E)Coff - In

Sun, 11/27/2011 - 15:02 | 1918189 ISEEIT
ISEEIT's picture

Funniest thing is that maybe he would be correct?

What if the ECB fails to 'perform'?

The Euro likely would emerge as the global fiat of choice.

Here we all thought it would be an SDR?

Germany wins? Those frickin' krauts are so devious/ent.

Here all along we thought it was actually the Jews?


Tricked us good/real good.

Sun, 11/27/2011 - 15:13 | 1918226 OCTOPVS
OCTOPVS's picture

How can you access that move to trade it...i thought fx doesnt open until a bit later....who are the players that early?


Sun, 11/27/2011 - 15:24 | 1918259 Treason Season
Treason Season's picture


Sun, 11/27/2011 - 15:32 | 1918295 Boston Wealth
Boston Wealth's picture

That chart has at the top right designation of the Bulgarian Lev (BGN).  Also notice where it says the previous close was.

Sun, 11/27/2011 - 16:24 | 1918484 itstippy
itstippy's picture

The Figians!  Of course!  Those bastards . . .

Sun, 11/27/2011 - 15:31 | 1918287 macholatte
macholatte's picture


it's some kind of early, pre-open bankster only - fuck the little guy -  we own the world trading platform. You'll get your chance after the set-up.


Sun, 11/27/2011 - 16:24 | 1918483 rguptatx
rguptatx's picture

At, I read 1.3322 bid, and 1.3332 ask.

Sun, 11/27/2011 - 15:33 | 1918297 macholatte
macholatte's picture


Sun, 11/27/2011 - 15:18 | 1918242 Moocao
Moocao's picture

Holy crap Italy needs to issue 7 billion euros???


Oh My God......


And i read a graph saying Italy is has 259 billion euros of bonds maturing for 2012.....


Oh My God.......


2012 is one effed up year....

Sun, 11/27/2011 - 15:24 | 1918262 czarangelus
czarangelus's picture

I love the steady degredation of rhetoric. From there's no problem, to the problem is easily containable, to "we need monetary easing to prevent contagion," to, "our currency can still be saved."


Next up: desperate measures.

Sun, 11/27/2011 - 16:49 | 1918576 disabledvet
disabledvet's picture

I agree. It's time we demanded they take their clothes off.

Sun, 11/27/2011 - 15:27 | 1918274 midgetrannyporn
midgetrannyporn's picture

Wolfgang? The guy who got shot?

Sun, 11/27/2011 - 15:38 | 1918278 Smithovsky
Smithovsky's picture

edx now 70 pips up from the close

tomorrow will be one humongous tear-your-face-off rally just like on 10/27 - don't miss it

and just like that one, it won't last long

Sun, 11/27/2011 - 15:30 | 1918282 laserjock
laserjock's picture

I Would have thought that TPTB would want a weaker Euro

Sun, 11/27/2011 - 15:38 | 1918315 midgetrannyporn
midgetrannyporn's picture

Only insomuch as it takes to bail them out. They plan to pay for it with austerity for the masses.

Sun, 11/27/2011 - 15:45 | 1918329 ISEEIT
ISEEIT's picture

They do. This is just 'free food' for the shitheads. EVERYBODY got on the same side of the ship. Short over 1.35. Rape and pillage bounces off of 1.32. Make some cash and trade it to desperate morons in exchange for real money.

Sun, 11/27/2011 - 15:33 | 1918291 Treason Season
Treason Season's picture

Maybe the Chicoms are buying.

Sun, 11/27/2011 - 15:38 | 1918314 Caviar Emptor
Caviar Emptor's picture

Global central bankers announce the concert event of the decade: EUR_AID!


Experience a star studded list of entertainers, glitterati, acrobats and at least one public hanging:


-Watch the magic of Warren Buffet playing Greek and Italian folk tunes on his ukelele! 

-See Sarkozy's incomparable rendition of Ma Cherie Amore , while serenading Angela Merkel

-Enjoy Donald Trump and Herman Van Rompuy singing a soul-filled duet version of Danny's Song to piano chords supplied by Mario Draghi and Lloyd Blankfein playing the harp  (Danny's Song: "And even though we ain't got money, I'm so in love with you honeyyyy" la la )

-Special guest appearance by

The Brotherhood of Banksters a capella Ensemble !! -scheduled to sing "We Are The World" 


All proceeds and both voluntary and involuntary contributions to go directly from China promoters to the ESFS (not tax deductible). 

Location to be announced. 

Sun, 11/27/2011 - 17:44 | 1918740 thecoloredsky
thecoloredsky's picture morning when I rise, bring a tear.... oh fuck!

Sun, 11/27/2011 - 15:41 | 1918325 Xibalba
Sun, 11/27/2011 - 15:46 | 1918342 hungarianboy
hungarianboy's picture

EURUSD right now 1.3306.

Good for the gap fill :-)

Check GBP/USD to also gaping up. Also very good for gape fill :D

Sun, 11/27/2011 - 15:48 | 1918348 Boston Wealth
Boston Wealth's picture

Where are you getting your quotes from?

Sun, 11/27/2011 - 15:57 | 1918384 Treason Season
Treason Season's picture

Kitco, scroll down.

Sun, 11/27/2011 - 16:51 | 1918585 hungarianboy
hungarianboy's picture


Sun, 11/27/2011 - 15:49 | 1918352 jcaz
jcaz's picture

LOL- gotta love the dumb money......

Sun, 11/27/2011 - 15:50 | 1918358 FoieGras
FoieGras's picture

Schauble is a delusional old man in a wheelchair.

Sun, 11/27/2011 - 15:54 | 1918371 TooBearish
TooBearish's picture

spot on- 5 day risk rally ahead

Sun, 11/27/2011 - 15:57 | 1918383 LookingWithAmazement
LookingWithAmazement's picture

Of course: Italy is saved, Belgium finally got new gov. What crisis?

Sun, 11/27/2011 - 16:00 | 1918397 alpharack
alpharack's picture

The higher WTI rallies the more brutal the demise of the euro currency will be when WTI crushes; of course any WTI rally translates into a minor bounce in that failed currency.

Sun, 11/27/2011 - 16:54 | 1918594 hungarianboy
hungarianboy's picture

I'm not so sure about that,

You see, those OIL DOLLARS will be converted partially into other currencies.

Guess Euro's and GBP's.

Sun, 11/27/2011 - 16:04 | 1918404 Atomizer
Atomizer's picture

Gather around boys & girls, Kinko wants to tell you about some dirty Euro currency secrets


The Euro, the Euro.. the kid loving clown

Sun, 11/27/2011 - 16:07 | 1918416 SteveT
SteveT's picture

What sites does everyone use for Eurozone counties bond yields?   I'm having trouble finding a good one.

Sun, 11/27/2011 - 16:09 | 1918421 raya123
raya123's picture

By the way the IMF bailout is not dependent on approval by U.S. Congress, as their plan is to obtain much of the needed funds from the ECB, then funnel it through the IMF as guarantor.

Sun, 11/27/2011 - 16:26 | 1918489 ISEEIT
ISEEIT's picture

30 + 70 = what?

This shit is obcene. XXX. 

Strap in and hang on.

1984 is today. 

Sun, 11/27/2011 - 16:30 | 1918503 Tom Green Swedish
Tom Green Swedish's picture

Full retard. Bernanke printing press on.

Sun, 11/27/2011 - 16:44 | 1918554 topcallingtroll
topcallingtroll's picture

Good luck with the euro reserve currency thing. A highly valued euro will kill their chance to be the world currency.

Greshams law rules, and the dollar drives out the euro if the euro is overvalued andin short supply.

Sun, 11/27/2011 - 16:45 | 1918562 Thought criminal
Thought criminal's picture

Remember that GS said they are bearish on Euro now and Morgue said to sell your commodities... that clearly indicates at least a short-term recovery to me.

Sun, 11/27/2011 - 16:58 | 1918609 hungarianboy
hungarianboy's picture

I can easally handle a 300 pip move on my chin. 

Sun, 11/27/2011 - 17:03 | 1918624 puck
puck's picture

Euro is not the problem, the euro will out last you or me

The printing of money and banksters are going to loose in the EU

The treaty or trieties will provide an escape for the euro not the sovernty.

Sun, 11/27/2011 - 17:59 | 1918784 Winston Smith 2009
Winston Smith 2009's picture

Long before these clowns can agree on any kind of treaty modifications or find even a fraction of the money needed (> 3 TRILLION Euros) to bail out those unworthy of any kind of bailout, there will be a flight from the Euro that triggers the entire mess to come tumbing down in a rapid death spiral.  When all sorts of MAINSTREAM media sources are finally talking regularly about this, even the dumbest Euro holder will probabaly figure out that it's time to bail out of that particular fiat currency.

Sun, 11/27/2011 - 18:46 | 1918807 Lord Welligton
Lord Welligton's picture

Last week, the crisis reached a new qualitative stage. With the spectacular flop of the German bond auction and the alarming rise in short-term rates in Spain and Italy, the government bond market across the eurozone has ceased to function.



The banking sector, too, is broken. Important parts of the eurozone economy are cut off from credit. The eurozone is now subject to a run by global investors, and a quiet bank run among its citizens. . .
Wolfgang Münchau seems to be getting the jitters.
Sun, 11/27/2011 - 18:29 | 1918856 chump666
chump666's picture

Italian IMF bailout should be negative to the market.

Sun, 11/27/2011 - 18:30 | 1918859 chump666
chump666's picture

...and the EUR is sell again.

My goodness the Europeans are insane,

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