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Crossing the line
HK RF@ 01:54 GMT 07/07/2015


Maybe there are some people who may take it seriously, but it was just obviously a piece full with nonsense.

If you decided to delete it, it's O.K for me, no bad feelings.

Crossing the line
GVI Forex Jay Meisler 01:49 GMT 07/07/2015  - My Profile
RF I would be glad to discuss this offline.


AceTrader Jul 7: Daily Recommendations on Major -EUR/USD
Hong Kong AceTrader 01:42 GMT 07/07/2015
Update Time: 07 Jul 2015 01:06 GMT

EUR/USD - 1.1046
Despite euro's gap-down open on Monday and then a sell off to 1.0969 following Greek 'No' vote, subsequent intra-day rally to 1.1096 in Europe suggests further choppy trading inside near term established range of 1.0955-1.1279 would continue.
Only a daily close above 1.1122 would encourage for further gain to 1.1171 and then 1.1244 before prospect of a retreat.

Below 1.0955-69 support area would signal early fall from June's peak at 1.1440 has resumed and extend weakness towards 1.0887.
However, key support at 1.0819 (May's bottom) should remain intact.

Crossing the line
HK RF@ 01:15 GMT 07/07/2015


This was clearly only a laughable piece.

As a reaction to a conspiracy post posted previously.

Jokes are made to be laughed at, not to be taken seriously.




eurusd
Mtl JP 01:07 GMT 07/07/2015  - My Profile
SFH 23:19 / plenty of opps to lose pips without trading iron ore
IF u r so inclined, naturally - rofl

Angela's Ashes: How Merkel Failed Greece and Europe
nw kw 01:02 GMT 07/07/2015
gold going into jpy

Angela's Ashes: How Merkel Failed Greece and Europe
Mtl JP 00:59 GMT 07/07/2015  - My Profile
Tom 23:19 / a comment about "value"
-
1) value is not be confused with price
2) value is the utility function that something provides. It may therefor be infinite. Like, lets say, a 45 caliber bullet in a gun that, properly placed, stops a crazed attacker in their tracks.
3) price: is the nominal expression of number of money units needed to transfer ownership and possession of said 45 caliber gun/bullet in a peaceful n neutral setting of said exchange.

Angela's Ashes: How Merkel Failed Greece and Europe
nw kw 00:57 GMT 07/07/2015
short yen or long aud for now .7470 beting on top side stop hunt for now

Angela's Ashes: How Merkel Failed Greece and Europe
Mtl JP 00:47 GMT 07/07/2015  - My Profile
nh 20:58 - what do u think - would be nice about it ?

typically the US sends in the IMF, the CIA and ultimately the military to either try to prevail or collect

Crossing the line
GVI Forex Jay Meisler 00:27 GMT 07/07/2015  - My Profile
RF you are crossing the line. Same no tolerance policy for all similar posts, regardless of the nationality or ethnic origin.

Eurusd
Tallinn Viies 00:08 GMT 07/07/2015
RBC Capital Markets notes:

1 - 3 Month Outlook - A deeper crisis in Greece

Greece's July 5 referendum led to overwhelming support for "No" though it is still unclear what No actually means. With the second bailout having expired, Greece now needs to negotiate a third programme from scratch in order to access funding and reopen its banks; the alternative is EUR exit. The situation is very fluid as we go to press, with yet another eurogroup and EU summit scheduled for July 7.

Despite all this, our forecasts are unchanged - we look for EUR/USD to remain rangebound in 2015 (assuming Greece remains within the Euro area which has been and still is our base case). In the event that we are wrong and Greece does leave the Euro area we would expect EUR/USD to test parity. The uncertainty surrounding a Greek exit would make a September Fed hike less likely (NY Fed President Dudley has warned the market may be too complacent in the event of an exit) but we would still expect EUR to be the main loser in FX.

The ECB would be expected to ease further to avoid any threat of contagion while there is a long-term impact in turning EUR into nothing more than a fixed peg. EUR's reaction to Greek developments so far has been limited - in part that seems to be market expectation that Europeans will "sort this out at the last minute" as that has been the lesson of the last five years. Outside of Greece, we have spent some time looking at financial conditions in the Euro area. We put together an 'ECG' (European Conditions Gauge): a barometer for Euro area market conditions based on EUR, 10y Bund yields and Euro Stoxx 50. Rapid rises in this ECG usually come ahead of softening survey/business sentiment data and we are already beginning to see evidence of this in our European economic surprise indicator.

Our Euro area ESI was very positive earlier this year, peaking at 64 in early/mid April. But since then it has turned negative and has been below zero since early May. The FX implication is that EUR rallies should be capped. Our technical analysts see the risks skewed towards a retest of the prior lows. The May low of 1.0815 is the first target; below there support is at 1.0465 and 1.0521. On the topside initial and secondary trendline resistance comes in at 1.1292 and 1.1424 with the 200dMA at 1.1609 representing much stronger resistance.

6 - 12 Month Outlook - Modest recovery

Further out, we still look for a modest EUR recovery, as the positive effects of QE/credit easing feed through. The economic recovery will take time to feed into higher inflation capping our longer-term forecasts.

Angela's Ashes: How Merkel Failed Greece and Europe
Triest Tom 23:40 GMT 07/06/2015
Why is the fiction so stubborn? It is not only that this fiction makes debt extension more acceptable to German voters; it is also not only that the write-off of the Greek debt may trigger similar demands from Portugal, Ireland, Spain. It is that those in power do not really want the debt fully repaid. The debt providers and caretakers of debt accuse the indebted countries of not feeling enough guilt – they are accused of feeling innocent. Their pressure fits perfectly what psychoanalysis calls “superego”: the paradox of the superego is that, as Freud saw it, the more we obey its demands, the more we feel guilty.

Slavoj Žižek on Greece: This is a chance for Europe to awaken


Angela's Ashes: How Merkel Failed Greece and Europe
London SFH 23:29 GMT 07/06/2015  - My Profile
the euro currency-looking back-was inevitable-the fact it is proving to be diffficult -is also inevitable-but whats the answer?

Junk science = garbage policy
Triest Tom 23:28 GMT 07/06/2015
This spring, Dr. Johannes Bohannon and a team of German scientists discovered that people on low-carbohydrate diets could lose weight faster if they used one weird trick: Eat a bar of chocolate every day.

Newsrooms around the world responded eagerly to Bohannon's findings.

Junk science = garbage policy


Angela's Ashes: How Merkel Failed Greece and Europe
Triest Tom 23:19 GMT 07/06/2015
While Greek defaults stretch back as far as the fourth century B.C., when Greek city states failed to pay back some funds borrowed from the Temple of Delos, this debt crisis is unique. Although it may be an exaggeration to call the euro a failed currency (in fact, the euro's value has remained impressively stable throughout this latest kerfuffle), it does represent a failure of eurozone leaders to prevent what has been an embarrassing standoff with one of its most economically weak member countries.

http://www.newsweek.com/greece-greek-debt-crisis-euro-importance-euro-european-union-euro-zone-alexis-350526

Greek Crisis Is Undermining the Philosophy of a United Europe


eurusd
London SFH 23:19 GMT 07/06/2015  - My Profile
pity we cant tade that iron ore-

Angela's Ashes: How Merkel Failed Greece and Europe
Triest Tom 23:13 GMT 07/06/2015
Problem tree analysis is central to many forms of project planning and is well developed among development agencies. Problem tree analysis (also called Situational analysis or just Problem analysis) helps to find solutions by mapping out the anatomy of cause and effect around an issue in a similar way to a Mind map, but with more structure. This brings several advantages:


http://www.odi.org/publications/5258-problem-tree-analysis


eurusd
Tallinn viies 22:54 GMT 07/06/2015
DJ: Iron ore's decline is gaining momentum. After a sharp 3.9% plunge Monday, the spot price is now down 12% this month alone. "Steel prices in China need to stabilize to provide some confidence to bulk markets, but this is proving elusive," ANZ analysts say. They point out near-month rebar futures have fallen 6% in the past two sessions. For producers in Australia, which supplies more than half of all ore traded by sea, a falling domestic currency is helping cushion the blow--but not by much. "A weakening AUD has provided only a marginal offset, with the iron-ore price in AUD terms down 9.5% in the last six days," ANZ says. Iron ore fell US$2.10 to US$52.00/ton, according to the Steel Index. That's its lowest level since April.

Greece
Empoli ab 22:47 GMT 07/06/2015  - My Profile
Mtl JP 20:34 GMT 07/06/2015

Jp thanks for ur suggestion... you have mail.

by the way i m afraid here in italy we are not too far to see what s happened in Greece believe me.

So why is OIL crashing?
London SFH 22:36 GMT 07/06/2015  - My Profile
oil has been under a bit of pressure last few sessions-I think todays move to 52.40 (wti) was a bit overdone-last trade I did was a small buy near the lows-would expect a bounce to at least $54..then look again..

apēr referendum - plain numbers
Israel Dil 22:34 GMT 07/06/2015
Bilderberg and the real money circles run this show. don't fall into the trap their slave ("democratically elected") politicians try to show as the case. who controls the CDS and credit markets?! - all answers are there!

the increase in lending costs for Spain, Italy and Ireland during Monday, only that marginal increase equals to the whole Greek debt. who controls the debt markets? do the size of money running in the CDS/DEBT markets is lucrative enough to damage so many millions of lives?

it's a hoax, Bilderberg is the group responsible yo deaths and murder crusades. their permanent members are "royalty" dating back centuries and the ones benefited from the SLAVE TRADE

Tuesday must be EURO crash day

MM / Dil

Greece
nw kw 21:49 GMT 07/06/2015
its just to bust the strong Unions

eurusd
Tallinn viies 21:46 GMT 07/06/2015
DJ: EUR/USD remains under pressure with support at 1.0860 followed by 1.08, says OM Financial senior client advisor Stuart Ive. The pair is at 1.1055 early in New Zealand. Ive says the Eurogroup meeting later in the day "will overshadow everything" but even with one obstacle out the way, in the form of the previous Finance Minister, "there remains a lot to be done and a lot of bridge building will be required for the Greeks to warm themselves toward their creditors." A break below 1.08 will open the path to retest lows seen in March, and all Greek things aside, the Eurozone will continue its quantitative easing program while the U.S enters a hiking cycle, says Ive.

So why is OIL crashing?
nw kw 21:30 GMT 07/06/2015
oil refiners reported they will have slower draw down to bring oil price down. 2 weeks old

Greece
Mtl JP 21:07 GMT 07/06/2015  - My Profile
ib 20:22 / qui bono
lets pretend that you asked genuine Q:
using trending social media, it might take maybe a few 10's of thousands of inspired account holders to crash the banking system by going to withdraw cash and maybe set off some long-overdue blood-letting turmoil in the bond market and the associated hundreds of trillions of dollars of derivative “insurance”.

Those folks with thir cash outside of the banks will be the one's who Cui bono as they avoid banking turmoil. And so I ask: who is against that ?

Angela's Ashes: How Merkel Failed Greece and Europe
Livingston nh 20:58 GMT 07/06/2015
Some years ago the US authorized an airlift of many billions of paper currency to Iraq - some years before that we spent billions on a DAILY airlift of supplies to BERLIN -- both had been enemies // we don't do BIG here any more but it would be nice to see Pres. Do-Gooder send some bales of USD paper to our NATO ally - they might put it in their ATMs

Angela's Ashes: How Merkel Failed Greece and Europe
Triest Tom 20:37 GMT 07/06/2015
". She can speak like Kohl, but she breaks with what he stood for. Left behind is a confused EU that doesn't know what the most powerful woman on the Continent actually wants."



http://www.spiegel.de/international/europe/merkel-s-leadership-has-failed-in-the-greece-crisis-a-1042037.html



Greece
Mtl JP 20:34 GMT 07/06/2015  - My Profile
Cui bono? surely u r jesting ib
-
I neglected to suggest to Empoli ab to change some of the Italian euros into things containing Gold. just in case the fore-ever helpful IMF would induce the ECB to bail-out (they will call it "help") Italy with couple of trillions of newly ELA'd euros.

Bottom Line:
Leaving money like some of the Greeks did and do at the local bank is begging gov't confiscation. On the other hand if you want to feed the princes and their IMF crony banksters, that too is an available privilege.

Greece
Paris ib 20:22 GMT 07/06/2015  - My Profile
JP... yeah right. Let's all panic.

Cui bono?

Closing Bell
dc CB 20:21 GMT 07/06/2015
today's RevRepo

49 bids submitted and 49 bids accepted in today's operation.
$169.851BLN @0.05%

Temporary Open Market Operations



Greece
Mtl JP 20:16 GMT 07/06/2015  - My Profile
Empoli ab / as an Italian with a bank account you are in a position of being given a lesson by your TV station showing Greeks winding around blocks to reach their ATM hoping for it to spit out some physical euro - but instead come face-to-face with a sign "No Money"

IF you are inspired into thinking to get your money out of your Italian bank and under your mattress or some other place (even buying some CHF for example) where your bank will not be able to put its gummy hands on it you are feeling a good inspiration.

IF you do pull out your euros from your Italian bank account before Italy does a Greek, leaves the euro and revives the lira, you will likely experience what it feels like to live like Soros

Closing Bell
Paris ib 20:13 GMT 07/06/2015  - My Profile
China is a much bigger ask.

Closing Bell
dc CB 20:10 GMT 07/06/2015
it's time for the weekly Tuesday RAMP.
If China get's "saved" tonight, hold on to your hats.

Closing Bell
GVI Forex Jay Meisler 20:05 GMT 07/06/2015  - My Profile
Nice comeback for equities

Greece
Paris ib 19:52 GMT 07/06/2015  - My Profile
No it does not.

Greece
Mtl JP 19:51 GMT 07/06/2015  - My Profile
ib - in Greece the electronic ELA rubbish has to morph into physical paper coming out of the ATMs or being handed over the cashier's counter

CHART POINTS: Free Forex Database
GVI Forex Blog 19:49 GMT 07/06/2015  - My Profile

Global-View Free FX Database. High-Low-Close data for over a dozen currency pairs for well over a decade of data in Excel spreadsheet format.

CHART POINTS: Free Forex Database


So why is OIL crashing?
dc CB 19:48 GMT 07/06/2015
perhaps some funds got caught on the wrong side of the "Greece dosen't matter" trade have found the need to liquidate some contracts ---- margin calls?

the way crude moves on a normal day -- $1-2 range, makes it pretty clear that its a trading vehicle and not priced on anything fundamental.

Bank Closures in Greece and the ELA
Paris ib 19:47 GMT 07/06/2015  - My Profile
"In an ELA operation, a national central bank (which n.b. is part of the euro system) receives IOUs from de facto insolvent banks, and electronically “prints” the euros the banks require"...

So while the EU blusters the Greeks must be pondering their options. And their options include unauthorised money printing of the electronic variety. Which may also require a little real printing of notes, as David Stockman points out.

Greek Money Printing


CFTC: Commitment of Traders Report
GVI Forex Blog 19:42 GMT 07/06/2015  - My Profile

Commitment of Trader Report Charts Trader Positions: EUR, JPY, CHF, GBP

Net EUR JPY COT Positions
Click on chart for EUR COT Details

CFTC: Commitment of Traders Report


Greece
GVI Forex 19:33 GMT 07/06/2015  - My Profile
15:32 (GR) ECB said to have rejected additional Greek request for ELA increase of €3B; Raising haircut on some collateral to 45% - financial press

- Source TradeTheNews.com

Greece
Paris ib 19:33 GMT 07/06/2015  - My Profile
"Greece is printing its own Euros. The bank of Greece credits the accounts of Greek banks.... Within the ECB system the only collateral for the euros created within the ELA mechanism – is the guarantee of the Greek state."

The ECB has temporarily shut down the ELA for Greece but how long they can do that is an open question.

In Greece "Hardliners... want a new team installed, one that is willing to draw on the central bank's secret reserves, and to take the provocative step in extremis of creating euros.

Such action would require invoking national emergency powers - by decree - and "requisitioning" the Bank of Greece for several months."

A little doom and gloom from 2012


Greece
PAR 19:25 GMT 07/06/2015
SPAIN'S RAJOY TALKED TO MERKEL TODAY FOLLOWING GREEK REFERENDUM

Greece
Paris ib 19:23 GMT 07/06/2015  - My Profile
Sorry JP that is just rubbish.

Should the Greek Government choose to it can decide to provide Greek Banks with liquidity without ECB approval. If it did so that would mean negotiations are over and the Greeks would have a de facto devaluation even though they would still use Euros. The excess Euro printing would have an impact on the Euro and on how the EU elite is perceived. So that is something 'they' wish to avoid.

With all the cheering ECB money printing it's hard not to see unauthorised Greek money printing as a positive. Good luck Greece.

ELA explained


Greece
Mtl JP 19:14 GMT 07/06/2015  - My Profile
the next challenge to Greek banks is that Greek economy and loads of its citizens use cash compared to the tap-to-pay style electronic debit cards making the physical distribution of physical euros into the banks a challenge. Not insurmountable mind you, just peski and annoying.

Greece
Empoli ab 18:59 GMT 07/06/2015  - My Profile
Here in Italy now at channel 1 Rai tv broafcast have said banks hope to reopen on wednsday, is yours an official news? Certainly now here m5stars and northern league are claiming now major strenght after no vote.. thks for reply

eurusd
GVI Forex john bland 18:48 GMT 07/06/2015  - My Profile
Good point re: rig count.


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