Tuesday, Feb 17, 2009
Big Jump in USD
Quotes.ino.com: US Dollar Index
I am certainly no expert - rather the opposite - but something is happening....
Posted by hpwatcher @ 06:21 AM (822 views) Add Comment
10 Comments
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1. debtfree said...
No expert either, but it could be this:
Forex failure continues in Poland
http://ftalphaville.ft.com/blog/2009/02/16/52508/forex-failure-continues-in-poland/
The growing crisis in Eastern Europe could cause nothing less than a total collapse in the West, or as he put it: “If one spark jumps across the euro zone line, we will have global systemic crisis within days.”
2. P. Riddy said...
Gold jumped to 680.
3. Peter Rocker said...
hpwatcher - could you at least explain what you think it means & why you posted?
4. little professor said...
Yes, the graph looks a bit meh to me - what do you think is happening?
5. hpwatcher said...
Someone [very big] is dumping something and buying dollars, at almost any cost.....
6. debtfree said...
could be a run on the euro
7. str 2007 said...
Yes Gold started shooting up at midnight last night against sterling according to the Bullion Vault charts. Whether or not that means it's something happening on the other side of the world I know not but it looks like it could be another of those 'interesting' days.
I don't know if any of you read techeimans comments on a thread yesterday or not. He was talking about if the ftse reached down to 4130 then it would likely drop to 4080 and if it breeched that could then turn down to previous recent lows (I assumed by that he meant 3780 level) I'm not sure what timescale he was talking about.
Anyway as techieman was predicting yesterday and as I type the FTSE is down to 4082 so that might also be worth watching.
8. refusetobuy said...
Meh. Zoom out a bit to 6 month chart and there have been much bigger, short term changes in the past.
Dollar/Euro is flat
9. bellwether said...
There is nothing that apparent in the exchange rates this morning. I guess a further down in the markets would tend to benefit dollar as more dollars than anything else will be "repatriated"
STR2007 I think the Techieman view is that below 4080 we are likely to see a retest of Nov lows before a rally from there and then a subsequent crash.
Based on a debt deflation model, I'm buying into Pretcher etc for now, there is no end to the decimation of financial values ie end point for markets could be unimaginable lows, as 50 years of a credit based system ramped on roids for a decade implodes.
10. str 2007 said...
Thanks Bellwether, that sounded a bit better than my attempt.