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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Sudden Debt's picture

Three. Onethousand
Four onethousand
Five onethousand

We're losing it doc!

Nobody special's picture


It's hard to be more stable than zero.

Manthong's picture

Hot dang!

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

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!

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

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.




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.


disabledvet's picture

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

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.

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

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.

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. 

GiantVampireSquid vs OWS UFC 2012's picture

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

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.


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.


GeneMarchbanks's picture

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

macholatte's picture


Thanks for the chat, Gene.

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...

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.

oogs66's picture

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

bank guy in Brussels's picture

It may yet be tricky, to short the EU Mint

Even though they likely are going to Print.

Ahmeexnal's picture

You just need to know which pair to short.

RmcAZ's picture

Hey wait, this isn't Friday Afternoon Humor.

xcehn's picture

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

Smithovsky's picture

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




ps i see junking people 

Dick Darlington's picture

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

Byte Me's picture

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

Randall Cabot's picture

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

Great Depression Trader's picture


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!


disabledvet's picture

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

Cdad's picture

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

Sudden Debt's picture

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

Byte Me's picture

Yeah... Sounds more like a wardrobe manufacturer.

Mike2756's picture

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

Byte Me's picture


Needs replacing by (E)Coff - In

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.

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?


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.

itstippy's picture

The Figians!  Of course!  Those bastards . . .

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.