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  • Austerity Passes, EUR/USD Eases From 3-Week High Afterwards on “Sell the News” Reaction

    From fxtimes.com

    In what proved to be a volatile half hour in currency markets we saw the Greek austerity measures pass in the Greek parliament. While the "yes" vote was expected it still created heavy volatility, and we saw a reaction of EUR/USD selling in the wake reports that the measures had passed in what looks like a bit of "buy the rumor, sell the news" reaction. We saw the pair slip sharply down to the 1.4330 area as we had 1 member vote "no" from the ruling party which gave the markets a scare. He was subsequently thrown out of the party after the vote. The finaly tally was 155-139 with some abstentions. ... (full story)

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  • Post #1
  • Quote
  • Jun 29, 2011 9:41am Jun 29, 2011 9:41am
  •  aurangzaib
  • | Joined Feb 2011 | Status: simple trader | 32 Comments
wow,
criticism is always their. someone has to say no and he is the one who said no......
as in democracy majority is authority.

so it does not matters.....
 
 
  • Post #2
  • Quote
  • Jun 29, 2011 9:42am Jun 29, 2011 9:42am
  •  AdrianHNV
  • | Joined Jul 2010 | Status: Member | 85 Comments
It was really good fun watching all the pairs jumping around........ like the 4th july on my screens!!!!!!!!!!!!!!!!!!!
 
 
  • Post #3
  • Quote
  • Jun 29, 2011 9:54am Jun 29, 2011 9:54am
  •  SnapCracklePip
  • | Joined Aug 2006 | Status: Cereal Killa | 8 Comments
1.4330??? its still dropping but in the 1.4360 area never got near 1.4330
 
 
  • Post #4
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  • Jun 29, 2011 9:59am Jun 29, 2011 9:59am
  •  hkg_paul
  • Joined May 2011 | Status: Member | 1,036 Comments
eyes on usd now
 
 
  • Post #5
  • Quote
  • Jun 29, 2011 10:01am Jun 29, 2011 10:01am
  •  AdrianHNV
  • | Joined Jul 2010 | Status: Member | 85 Comments
Risks aversion all afternoon now with USD!!!!!!!
 
 
  • Post #6
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  • Jun 29, 2011 10:08am Jun 29, 2011 10:08am
  •  hkg_paul
  • Joined May 2011 | Status: Member | 1,036 Comments
will see later how the future market react... if the pair break 1,4330/40 might see ny closing 1,4260
 
 
  • Post #7
  • Quote
  • Jun 29, 2011 10:14am Jun 29, 2011 10:14am
  •  hkg_paul
  • Joined May 2011 | Status: Member | 1,036 Comments
eventually.... the crisis start now. How will the population react. Protest a month for nothing ? Now it will turn into a extreme political crisis down there.
 
 
  • Post #8
  • Quote
  • Jun 29, 2011 10:48am Jun 29, 2011 10:48am
  •  Jolly Roger
  • | Joined Jun 2011 | Status: Member | 1,468 Comments
It might very well be that all the voting, ( the result expected) the crisis, the rise in the EUR is all priced in, and now the trading is about the real value of the EUR. Now when this is going where it is expected to go, traders start to take a broader look on the EUR.

Worth noting though, at the very hight of the voting frenzy, there was an announcement from the Feds that the "easing" will continue.

The remarkable thing was that this announcement was almost , as it looked, timed to be obscured by the Greece drama, it was almost on the minute when the interest in the Greece drama was at it's peak.

The US money presses will again go into Warp 9.
 
 
  • Post #9
  • Quote
  • Jun 29, 2011 10:52am Jun 29, 2011 10:52am
  •  Jolly Roger
  • | Joined Jun 2011 | Status: Member | 1,468 Comments
OOps my mistake, no "easing" it is liquidity swap...another thing,,,,gotta get some sleep now after allo these Greece stuff
 
 
  • Post #10
  • Quote
  • Jun 29, 2011 11:06am Jun 29, 2011 11:06am
  •  SnapCracklePip
  • | Joined Aug 2006 | Status: Cereal Killa | 8 Comments
still never touched 1.4330 it was good guess of where it would go but the low was 1.4344.......this is 3 hours after this story published .....i just don't know where he saw a drop to 1.4330..... it doesn't matter really pretty small reaction overall....it would have only been big move if they did not pass......the us housing numbers are actually bigger news and driving rally in equities thus weakening the dollar more......tis a dollar weak - week
 
 
  • Post #11
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  • Jun 29, 2011 11:29am Jun 29, 2011 11:29am
  •  SnapCracklePip
  • | Joined Aug 2006 | Status: Cereal Killa | 8 Comments
No Taxes + retire at 53 with 80% pay.........they bunch of spoiled brats protesting.....
no wonder they broke........but really its what 14 million Europeans who the f&*! cares.......then again canadians go nuts when they loose a hockey game and do the same thing lol!
 
 
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  • Story Stats
  • Posted: Jun 29, 2011 9:38am
  • Submitted by:
     fxtimes
    Category: Fundamental Analysis
    Comments: 11  /  Views: 3,339
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