Wednesday, July 10, 2013

Worst...Timing...Ever: EURUSD

So much for "Lines on Charts: 'Euro about to crumble and fall hard?'".
That was at EURUSD  1.2786 -0.008.
Yesterday.

1.3160 last.

About 10 minutes ago ZeroHedge's headline was "Currencies Go Berserk As Bernanke Kills King Dollar":
We noted earlier the brief chaos that the minutes created but - following Bernanke's promise to print moar - the after-hours collapse in the USD against every major (and minor) currency pair in the world is tremendous. USDJPY is over 200 pips off the day's highs (JPY surging below 98.50), GBPUSD is getting smashed higher (+275 pips from pre-close), and EURUSD is screaming higher (up 220 pips from the US close breaking above 1.3200). Retaliation for Carney and Draghi's comments? Who knows... but the currency wars are back on (and the 'other' currency is surging to $1290 per ounce).



and a little context...MORE

I have dishonered my ancestors.
At least U.S. equities should be up tomorrow.
And gold should get a bump toward that $1360 target:
How High Can Gold Bounce?