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Shouldn't this strengthen the dollar?
Agreed...One would think long term this should good for the dollar as it makes it easier to access USD. I am assuming right now it is all just people that were positioned the other way and are now unwinding their trades.
Well, it would seem the Euro is now safe.
F the dollar (for the next 15 minutes, at least....)
Yes. Now we will be looking at the ECB to lower rates. But that will be factored in tomorrow. Now we are all celebrating that the FED saved the world:)
Really? Cheaper dollar lending makes the dollar stronger? Seriously?
Gold and silver, bitchez. We now know why there was such a concerted smackdown of prices. It's much easier to start from this base than from what we had at $48 or even $40. Luckily some of us have stacked for a long time...and continued doing so when they put silver on sale at $30 an ounce...
No - I think it increases the supply of USDs which are then converted into other currencies, so demand for other currencies relative to the USD goes up. Which means the USD drops.
Very helpful data and color provided by these CONTEXT articles, Tyler.
'Silver and Gold also jumped notably (with the former much more than the latter as is its higher beta case) and Oil now over $101 which has to help spending and demand in the real economy right?'
Uhm yes. I, for one, certainly am 'spending' more ... ... on silver.
Oil to $110 now?
Range trading now, so go back to bed.
BRICs are laughing their asses off.
Since adding copious amounts of liquidity to a problem solves everything, why not elect Peter North as Fed Chairman?
YOU GOTTA LAUGH IF YOU ARE A CHART PERSON BECAUSE THIS INTERVENTION AT THIS TIME IS BASED ON ONE THING AND THAT IS THE CHARTS AND TECHNICALS. WHEN DID THE FUNCTION OF A CENTRAL BANK BECOME TO MANIPULATE THE MARKETS.
Manipulation has always been their goal!
In this universe, at least since 1980.
I bet that IMF jibber-jabber at the weekend was just cover to get exposed to this move, an excuse to buy risk, thats probably why the market kept its bid, even after the rumors were rubbished. There is no fucking way anyone would have bought yards of euro on a weekend on such a pathetic rumor.
Will be taking some money off the table today for sure. This is a crazy market to do anything in.
Exact history repeat
Random question - What does ES stand for? I'm guessing equity sector based on the context I've always seen it in, but I've never seen an actual definition.
It's the S&P futures index that is manipulated to set morning prices. By manipulating ES the big boys can move price up 30 points like tonight on a fraction of the money required during the day and then collect all the money from day time sellers. So in spite of having a 30 pt move tonight most people will see little to none of it, and have no ability to react intelligently to the shifts except to panic. Also allows bypassing of pools of supply or demand that would work against those that can trade at night.
Funny how this news comes out 1 day after Obama's approval rating dropped to an all-time low for ANY US president. Obie's re-election campaign in full swing now.
It figures - thought they'd wait for a few more days, but the S&P downgrade of the Squid + Obama's re-election made this a good time.
Bammy gets a two-fer from a CTRL+P European bailout:
1. This will further weaken the US and the Dollar, and;
2. It will keep this bukkake theatre of a global economy going until the 2012 elections.
this is a signal for all insiders to sell into the rally! war starts overnight!
Obama's re-election chances go to 0 when gasoline goes to $5 a gallon. Of course the fucker will just come out and say this all happened because my jobs bill wasn't passed.
Mmm, more of our liquidity for Eurobanks, markets respond...DANCE MONKEY DANCE!
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