EUR/USD - 100 pip jump @ 9:25EST in 5 min??? | Forex Factory

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EUR/USD - 100 pip jump @ 9:25EST in 5 min???

  • #1
  • First Post: Nov 6, 2007 9:17pm Nov 6, 2007 9:17pm
What happened here? Did a market just open?Thank you for your comments!
  • #2
  • Nov 6, 2007 9:20pm Nov 6, 2007 9:20pm
Quoting rudenstein
What happened here? Did a market just open?Thank you for your comments!
Basically Chinese speaker said something along the lines of

"We have sh$tload of $$$ and we need to diversify to be on the safe side..."

People translated it as "We are going to sell $1.8 trillion and flood the market with $$$"

Then they "corrected" themselves by saying "umm we didn't mean we'll be buying Euros you guys..."
  • #3
  • Nov 6, 2007 9:22pm Nov 6, 2007 9:22pm
Sad thing is, I'm not even sure that it's meant to be a joke
  • #4
  • Nov 6, 2007 9:23pm Nov 6, 2007 9:23pm
Quoting rudenstein
Sad thing is, I'm not even sure that it's meant to be a joke
I don't think $1.8 trillion is a joke...
  • #5
  • Nov 6, 2007 9:24pm Nov 6, 2007 9:24pm
Looks like the beginning of what may be worse to come for the dollar.

Best wishes to us all!

  • #6
  • Nov 6, 2007 9:24pm Nov 6, 2007 9:24pm
How did you get such an exact figure?
  • #7
  • Nov 6, 2007 9:27pm Nov 6, 2007 9:27pm
Jump up or down??
  • #8
  • Nov 6, 2007 9:28pm Nov 6, 2007 9:28pm
up
  • #9
  • Nov 6, 2007 9:30pm Nov 6, 2007 9:30pm
Quoting jgospoda
Looks like the beginning of what may be worse to come for the dollar.

Best wishes to us all!

You're probably right, the dollar is going down the toilet .. :surprised
  • #10
  • Nov 6, 2007 9:31pm Nov 6, 2007 9:31pm
If you look across the board on USD/pairs, they all jumped in their corresponding direction. This is not a strengthening of euros, but rather a weekening of dollars.
  • #11
  • Nov 6, 2007 9:31pm Nov 6, 2007 9:31pm
Who was the "expert" in the news section that said the USDCAD would go under $1.00 some but "we're not talkling about it seeing .9000 anytime soon"?

It's scary how hard the dollar is falling. But to be expected since US manufacturing losses are killing the country financially. Thanks US CEO's!!!!
  • #12
  • Nov 6, 2007 9:37pm Nov 6, 2007 9:37pm
Quoting kmrunner
Who was the "expert" in the news section that said the USDCAD would go under $1.00 some but "we're not talkling about it seeing .9000 anytime soon"?

It's scary how hard the dollar is falling. But to be expected since US manufacturing losses are killing the country financially. Thanks US CEO's!!!!
Manufacturing losses? What exactly are you talking about? I think that's the least of our worries.
  • #13
  • Nov 6, 2007 9:38pm Nov 6, 2007 9:38pm
Quoting HipsterPipster
If you look across the board on USD/pairs, they all jumped in their corresponding direction. This is not a strengthening of euros, but rather a weekening of dollars.

true. euro was the more impressive jumps though. usd/cad doesn't even have time to breath haha.
  • #14
  • Nov 6, 2007 9:40pm Nov 6, 2007 9:40pm
Quoting Kayoubi
true. euro was the more impressive jumps though. usd/cad doesn't even have time to breath haha.
Agreed, as I think most of us believe the obvious choice for China would be the euro.
  • #15
  • Nov 6, 2007 9:42pm Nov 6, 2007 9:42pm
Quoting kmrunner
Who was the "expert" in the news section that said the USDCAD would go under $1.00 some but "we're not talkling about it seeing .9000 anytime soon"?

It's scary how hard the dollar is falling. But to be expected since US manufacturing losses are killing the country financially. Thanks US CEO's!!!!
long term and short term outlook does paint a messed up picture of the US. I think it shows that when the world puts their mind to it, they can really destroy the dollar.

but for the cad, nobody would've been callous enough to call .9000 this soon. 1.18 to 0.92 is no walk in the park.
  • #16
  • Nov 6, 2007 9:45pm Nov 6, 2007 9:45pm
Quoting Kayoubi
long term and short term outlook does paint a messed up picture of the US. I think it shows that when the world puts their mind to it, they can really destroy the dollar.

but for the cad, nobody would've been callous enough to call .9000 this soon. 1.18 to 0.92 is no walk in the park.
I too agree the dollar is on it's way towards destruction, unless the US government intervenes ...
  • #17
  • Nov 6, 2007 9:45pm Nov 6, 2007 9:45pm
Quoting Kayoubi
long term and short term outlook does paint a messed up picture of the US. I think it shows that when the world puts their mind to it, they can really destroy the dollar.

but for the cad, nobody would've been callous enough to call .9000 this soon. 1.18 to 0.92 is no walk in the park.
That is a big move, I did read that the Loony may stabalize around .98. Thats about a 17% rise.
  • #18
  • Nov 6, 2007 10:12pm Nov 6, 2007 10:12pm
The economy in the US is strong. The dollar sell situation is like the internet bubble of 2000. It's sell dollars no matter what. This is silly. Traders can have more control if they wouldn't be moved up, down, and sideways by every small peice of news that gets released. This thing is way to big for all of us so think long term. Look at the last 2 months NFP action. Didn't mean squat. And if you don't think the dollar isn't going to come back and come back strong, well you haven't been around long enough.

I guess you can tell I'm short Euro.
  • #19
  • Nov 6, 2007 10:14pm Nov 6, 2007 10:14pm
Quoting HipsterPipster
That is a big move, I did read that the Loony may stabalize around .98. Thats about a 17% rise.
To some extent, american Feds likes the low dollar. They are in no hurry to support it. This is one of their stretagy to solve the economic problems
  • #20
  • Nov 6, 2007 10:17pm Nov 6, 2007 10:17pm
The world did not destroy the dollar, the US has destroyed the dollar. Read what Mr. Pat Buchanan says about it, and he is right. Its NAFTA. Pero was right. That giant sucking sound took manufacturing from this country, and we have been spending wayyyyy too much.

My gut is Bernanke is going to say something on Thursday to try and calm the situation so I look for a small pullback. I am going to hedge my profits.

http://www.wnd.com/news/article.asp?ARTICLE_ID=58476
"Its not where your at, but where your coming from"
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