EURUSD:
EURCHF:
And apparently the crash metastasized to the GBP as well
Comments?
Posted on 10/23/2010 6:41:35 AM PDT by HangnJudge
And now, for that Friday night bomb, when nuking stocks has a tad too much of a Waddell and Reed 'amateur hour' aftertaste, the only alternative - destroy the entire currency market. If this crash in the DXY (seen below) had happened during regular hours, apparently driven not by the dollar but by DXY component EUR (there was no comparable move in other USD pairs), it would have created a complete market collapse. Luckily it happened an hour after close. Weekend collapse averted. And a quick glance at the other pairs shows that the GBP and CHF were solidly impacted as well.
(Excerpt) Read more at zerohedge.com ...
EURUSD:
EURCHF:
And apparently the crash metastasized to the GBP as well
Comments?
It looks bad, but it is totally beyond my understanding.
Granted I’m not the best at reading charts but the graph looks way worse than the actual numbers.
WTF
Euro traded from 1.3952 down to 1.3925. Likely not HFT, but rather a human fat-finger error (two and five in wrong order) that cause what is only about a 0.2%-ish move.
Holy crap! But what happens when the delta increases and the centerfuge rehabilitates under the weight of the middle axis? Then we are totally screwed!
Kind of reminds me of the event of July 16, 1945.
It’s totally beyond my understanding as well. Can someone put it in simply layman’s terms?
It was the DXY futures crash that was dramatic
Hi 77.965
Lo 75.850
Over space of 15 min
Correction
DXZ (not DXY)
Some big trader made a move, spooked the market
Suspect the Capacitance (ability to soak up volume trades)
May be straining at the edges
Shows possibility for very large, very rapid currency shifts
http://www.marketwatch.com/story/currency-war-tops-asian-agenda-for-g-20-2010-10-20
Currency war tops Asian agenda for G-20
HONG KONG (MarketWatch) — Asian finance ministers and central bankers will use this weekend’s meeting of the Group of 20 major economies to communicate the hardships they face from surging capital inflows and appreciating currencies.
Concerns are mounting that if left unchecked, current trends are creating a bubble that could suddenly burst in replay of the 1997 Asian financial crisis that ended a boom-time for the region.
“We have a situation right now where pretty much every major emerging-market economy is being subjected to a wall of money emanating from the U.S.,” said Cantor Fitzgerald economist Uwe Parpart in Hong Kong.
“The assumption that all of this money is genuine investment money is clearly mistaken — a great deal of it is purely speculative,” he said.
The G-20 finance ministers and central bank officials will gather in Gyeongju, South Korea, from Friday for a weekend meeting, followed by a two-day meeting of the G-20 heads of state in November. Asian members of the bloc include China, Japan, India, South Korea, Indonesia and Australia.
South Koreans stage a rally to celebrate Seoul’s hosting of this year’s meetings of the Group of 20 major economies. “There is every good reason for Asia financial officials to take the opportunity of these upcoming forums to tell the U.S. this is not acceptable, you are pursing a one-sided monetary policy that is in your own best interest,” Parpart said
It looks bad, but it is totally beyond my understanding.
It’s totally beyond my understanding as well. Can someone put it in simply layman’s terms?
You’ve come to the right place! LOL!
Ditto to that.
Whatever it is, it doesn’t look good but I have no idea what it is and what you’re talking about, lol.
I thought I was on Free Republic. Does anyone here speak English?
I used to trade stock options, but this is Currency Trading! Isn’t this Soros’ territory? The Ruskies banned him from trading in rubles, but the Brits didn’t stop Soros from breaking the Bank of England with manipulative trades. Is it happening again? Does the Fat Finger belong to George Soros? Lastly, why on earth does a person feel they have to change their birth name (Soros was born, ‘Schwartz’ in Hungary)?
Soros and the ChiComs letting us know who owns the US debt?
“The stock market is a flea on an elephant’s a$$ (the bond market), and the elephant is a nanoparticle in the Milky Way (the currency markets).”
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