Markets are spooked today....!

inspector_monkfish

:eek: mind yer eye :eek:

mr_fishbulb

chucky

it's going to be a volatile day...

1984ReturnsForReal_2

chucky wrote: »

it's going to be a volatile day...

Yep,


They have all come with sharpened bics.......

lemonjelly

inspector_monkfish wrote: »

:eek: mind yer eye :eek:

Is this due to the spain bail out? Europe? Or are we just catching up with what happened in the u s of a & asian markets overnight?

Or is there a deeper meaning to it all...

chucky

lemonjelly wrote: »

Is this due to the spain bail out? Europe? Or are we just catching up with what happened in the u s of a & asian markets overnight?

Or is there a deeper meaning to it all...

over selling IMO

there some good long term opportunities out there...

mr_fishbulb

lemonjelly wrote: »

Is this due to the spain bail out? Europe? Or are we just catching up with what happened in the u s of a & asian markets overnight?

Or is there a deeper meaning to it all...

FT reckons it is to do with trouble in Spanish banks, and North Korea up for a fight - http://ftalphaville.ft.com/blog/2010/05/25/241866/eurocrash-part-deux/

inspector_monkfish

lemonjelly wrote: »

Is this due to the spain bail out? Europe? Or are we just catching up with what happened in the u s of a & asian markets overnight?

Or is there a deeper meaning to it all...

a liitle bit of all of that...

drc

Is this due to Lost ending?

Jonbvn

Some good background here.

http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2010-05-25-0447-Dollar_and_Yen_to_Rise.html

The US Dollar and the Japanese Yen advanced against the spectrum of major currencies – the former boosted by safe-haven demand and the latter by unwinding carry trades – as stocks dropped in Asian trade amid concerns that Europe’s debt-reduction efforts will undermine the global economic recovery. Indeed, bailing out high-deficit countries would imply taking on substantially more debt for bastions of fiscal discipline like Germany; financing this will drive borrowing costs higher, slowing economic growth. Taken together, the Euro Zone is the world’s second largest economy, so a marked downturn here bodes ill for worldwide growth at large. The MSCI Asia Pacific regional equity benchmark index fell 2.3 percent to touch the lowest level in ten months.

inspector_monkfish

08:41 25May10-STERLING <GBP=> FALLS 1 PCT ON DAY TO $1.4278
08:43 25May10-EURO FALLS NEARLY 1 PCT ON DAY TO DAY'S LOW OF $1.2230 <EUR=>
08:43 25May10-DOLLAR RISES 1 PCT VERSUS CURRENCY BASKET <.DXY> TO 87.11
08:44 25May10-U.S. TWO-YEAR SWAP SPREAD <USD2YTS=RR> RISES TO FRESH ONE-YEAR HIGHS AT 59.5 BPS
08:48 25May10-Euro, sterling fall 1 pct on day vs dollar

LONDON, May 25 - The euro and sterling fell one percent on the day against the dollar on Tuesday as concerns about the European banking sector and stress in money markets fanned demand for the U.S. currency.

Broad risk aversion pushed the euro as low as $1.2230 <EUR=>, within a cent of last week's four-year low of $1.2143. The break of $1.2135 -- 50 percent retracement of 2000 to 2008 rally -- is seen opening the way for more losses.
Sterling fell as low as $1.4277 <GBP=>.

The two-year U.S. swap spread <USD2YTS=RR>, a key gauge of financial system stress, rose to fresh one year highs near 60 basis points, up from 51 bps on Monday.

"(Money market stress) underscores the whole feeling of extreme risk aversion," said Gavin Friend, currency strategist at nabCapital.