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wow, anyone catch that EUR/USD move?
- Thread starter PaulRon
- Start date
EUR/DLR shot up to 1.5791, and traders note this pair takk lead vs the Eur/Yen's rise. CTA and Asian names from Hkg and Sgp have driven the pair higher through the stops area of 1.5750-70 at once. No news behind.
Quote from gwac:
euro/jpy stops at 161.5, pulled up euro usd also...
IMHO once the dust settles, euro/usd goes back down
It looked like just another EURUSD breakout, but the interesting thing about it was the timing.
It happened during the Asian session, which is a bit unusual for this pair to make a big move. It looks like 75 pips up.
The EURJPY spiked down at the same time the EURUSD spiked up.
This might indicate some carry trade unwinding again?
Although, not all of the JPY pairs spiked down then, so it remains unexplained.
Quote from Panamadan:
It looked like just another EURUSD breakout, but the interesting thing about it was the timing.
It happened during the Asian session, which is a bit unusual for this pair to make a big move. It looks like 75 pips up.
The EURJPY spiked down at the same time the EURUSD spiked up.
This might indicate some carry trade unwinding again?
Although, not all of the JPY pairs spiked down then, so it remains unexplained.
Yeah, I saw it when it happened and thought some breaking news about ECB or something significant had occurred. When I read through all of the stories afterwards I'm still thinking "WTF". That was a pretty huge spike for after hours trading / no news.
Quote from brocklanders:
Yeah, I saw it when it happened and thought some breaking news about ECB or something significant had occurred. When I read through all of the stories afterwards I'm still thinking "WTF". That was a pretty huge spike for after hours trading / no news.
Yes, it was a very big spike for that pair, at that time.
That is what is so strange about it.
There does not appear to be any news to account for it, and it happened during the Asian session.
Some big JPY movements would be normal then, but EURUSD? It will be interesting to find out what it was. No doubt, it was a total surprise to many people.
It looks like Asia is dumping USD for EUR in a big way! Today might be an interesting day to watch.