Euro Panic around the Corner....

Quote from achilles28:

Wow. Market totally ignored ADP.

Down over 100 pips in 30 mins...
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ADP is irrelevant. Not only does it have nothing to do with nonfarm (check past correlation) but the real move in EUR came because ECB did not offer up another LTRO.

The Euro is done. Stick a fork in it. I think we see a Germany exit before Greek one! :)
 
I stand corrected. The euro is terribly flawed and the only way out of this mess is to print/fiscal union = further euro weakness. Agreed there. The dynamic in the market is interesting to watch now, as bailout agreements lead to Euro strength, and lack of additional commitments lead to weakness. Another interesting angle - if Germany remains in the Euro, and most other countries drop, it'd effectively be the D-mark, and trade a lot higher than it is now !

Spanish 10 year is up above 7% today, again..

Spain%2010%20Year%207.6.jpg
 
f*k sentiment, eur will go lower.

markets are not tanking as EU is mainly export economy and implosion will not necessary be bad for the rest of the world. AUDIs will be replaced by KIA's, so no big deal. givenchy by mcflower.

who cares.
 
Some commentary from Nouriel Roubini:

Roubini : In Italy The Business & Political Lobbies favor Euro Exit
http://nourielroubini.blogspot.ca/2012/06/roubini-in-italy-business-politcal.html


Roubini: Two Futures for Europe: Complete Integration or Break-up
<iframe width="560" height="315" src="http://www.youtube.com/embed/yVyrkB8aRhI" frameborder="0" allowfullscreen></iframe>


Roubini : Europe Situation May Turn Disorderly
http://nourielroubini.blogspot.ca/2012/06/roubini-europe-situation-may-turn.html


Roubini : The Recession will become a Depression
http://nourielroubini.blogspot.ca/2012/06/roubini-recession-will-become-depression.html

Roubini : Merkel wrong on Eurobonds

At some point the Germans will decide, do I take the credit risk of backstopping Spanish and Italian debt in exchange for some loss of national fiscal sovereignty by Italy and Spain in which case the euro zone has a chance to survive. Otherwise, this will become disorderly in the next few months." - in Bloomberg
http://nourielroubini.blogspot.ca/2012/07/roubini-merkel-wrong-on-eurobonds.html


Roubini : Germany will have to accept debt mutualization or debt monetization by the ECB
http://nourielroubini.blogspot.ca/2012/07/roubini-germany-will-have-to-accept.html
 
They are in great trouble
I am expecting the Euro to touch 1.20 in few weeks
spain borrowing cost back up to 7% thats crazy
Let just hope this weekend will be interesting
 
Quote from achilles28:

Approaching the 2 year low at 2280.....Stop hunting?? :)
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+1

Targeting range 1.2250 to 1.2150 for reaction long, if area fails 1.2000
 
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