[Archive!] FOREX - Trends, Forecasts and Consequences (Episode 6: August 2011) - page 47
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I told you they were about to race:
A physics problem:
The euro and the dollar are falling in airless space.
The question is: Who will fall first?)
While the quid will fall, when the euro goes down in an adult fashion there will be no laughing matter, but there will be. It's a matter of time, but it will be a long time yet.
What does Mr Romanov say? The link to his comments is lost somewhere)))
I told you they were about to race:
A physics problem:
The euro and the dollar fall in an airless space.
The question is: Who will fall first)))
He himself is lost
Thank you.
Romanov:
"Looking at the swissies. A book about the search for either Shambhala or Inner Mongolia comes to mind, or it's the same thing, or I've forgotten. In this world all sensible things are arranged so that the search for balance does not stop for a second. And if a bottle of sake is empty, it is a blatant violation of the harmony of the world. Meanwhile, the book is profane, but in places where other words are simply inappropriate. For example, the Power of Night, the Power of Day, are the same ... funtiena. In this world, every action has to be countered, otherwise what's the balance. And if there is such a good quality as liquidity, it necessarily has the other side of the coin. Oh yes, the franc is liquid. But it is too liquid. It is not liquid in a balanced way. There is a frighteningly hype demand, which is such a strong franc that it has become a cheap, trashy vaudeville. It's already reminiscent of the banana republic of Anchuria. Low class. Uncomilitative. It's like the caps of officials with lampshades, such big caps, but covering up a complete lack, as a rule. I remember in the army, in the eighties, the officers were drinking. The commander asked the ensign in front of us - where's your head? And he can hardly stand on his feet, he lost his cap in the woods. And there was also a joke that he had only one brain, and it was from his cap. I don't know, such excessive banana hats scare me. A la Mabutu Sese Koko. Uncomfortable. I mean, if it's a double-edged sword, it started out for good health (liquidity) and now it's time for a requiem for lost respect, balance, stability. Whoever says the franc is stable, I advise you to say it directly to Hildebrandt. Frank has crossed the line. Frank, once a respectable gentleman, has sunk to the point of piagal dance. He is already out of control, he has gone rogue, he is in disastrous technical resonance. Your will, and there is a limit to everything. And Switzerland is powerless over the market, and the market gets no opposition. And the Swiss are only ducking and mumbling - our business is adapting to a strong franc. And in Japan, where the situation is not similar, but something like that is happening with the yen, they are already seriously worried about outsourcing (I don't know if that term applies here?) production offshore. To hell with the horns just to get out of the country where the currency has become unstable, unreasonably, insanely expensive. If there is no opposition, if the market is not looking for balance, if one way, then it is no longer a market and it is no longer currency."
The Swiss National Bank softened its monetary policy today to stop the excessive strengthening of the national currency.
SNB comments:
- The franc exchange rate is very much overvalued.
- The Swiss economy is under threat and its growth outlook has deteriorated.
- Deflationary risks are rising.
Central bank:
- Intends to keep the 3-month Libor rate as close to 0 as possible - its target range narrowed from 0.00-0.75% to 0.00-0.25%;
- will increase the amount of franc liquidity flowing into the Swiss money market over the next few days;
- Plans to increase the amount of perpetual deposits at the SNB from CHF 30 billion to CHF 80 billion;
- will no longer resume repurchase transactions and bonds due for redemption at the SNB, and will buy back outstanding SNB securities until the desired level of perpetual deposits is reached.
- closely monitor developments in the foreign exchange market;
- if necessary, will take new action to contain the appreciation of the franc.
We did, but went on at low volumes, we'll soon be adrift.
What a beauty...
We did, but went on at low volumes, we'll soon be adrift.
Yes, we did... Had to change the strategy, doesn't want to go down, seems Friday's volume is still working, waiting for a pullback and buying...
And rightly so)))