[farlander]

I’m not so sure it’s a panic level movement.

EURUSD is down 150 pips. USDJPY is up 100. GBPUSD is down 100. USDCAD up 70. AUDUSD down 70.

There’s definitely some buying going on. But if you only go back a little while on the chart, say, the 11th of Jan, you find a 400 pip drop on the EURUSD within 2 hours.

And, the ES futures, while down a bit (10pts), are not signaling anything out of the ordinary at this time.

[bruinbirdman]

"There’s definitely some buying going on. But if you only go back a little while "

Yeah. Bloomberg doesn't have a panic signal.

Euro is at $1.26+, down 120+/-. Been looking for parity at $1.20 since the flight to foreign currency ended in 2007.

Sterling at $1.42+, down 49, looking for a historical conversion at $1.40.

Someone who likes gold also likes red lights?

yitbos

[Candor7]

Agreed. This is not panic selling, but it is an adjustment in Europe to certainn financial realities brought home by G7 delegates.

The USD will be the last to go, but when it does, we won't be able to print USD fast enough.

But we are not there yet.

What has scared things probably is that fact that the USA is going to be trying to borrow trillions from China, and others, and Europeans think the USA will succeed in that, making for a strong dollar. So everyone is buying USD, and running from their own currency.

Temporarily good for USD, but in the long run, a bad , bad thing.

Thanks for the ping SatinDoll.