Don't need to really, I just need to know you're routinely wrong about a subject you claim to be expert in.JG wrote:
Yes, do you know anything you haven't wikipedia'd?
Last edited by Dilbert_X (2010-05-14 06:16:05)
I never said it did. I said that it wanted to maintain it's strength. I never said there was a pegged value they were trying to maintain.Dilbert_X wrote:
Don't need to really, I just need to know you're routinely wrong about a subject you claim to be expert in.JG wrote:
Yes, do you know anything you haven't wikipedia'd?
You could at least check things before you state them, that would be smart though....
I do however know the ECB doesn't target a USD exchange rate and never has.
VJG wrote:
I never said there was a pegged value they were trying to maintain.
You're wrong, and you can't even admit it.JG wrote:
The ECB has made it it's goal to maintain a value well above the Dollar for the Euro.
Last edited by Dilbert_X (2010-05-14 06:22:04)
Why would I delete the thread? You do understand the difference between stated goals and unstated yes? Maintaining the Euro at or above the $1.30 mark is very significant psychologically for not only the ECB but currency traders as well. I know you're an uncompetitive person but you do understand the concept of competition, right? It's a matter of pride.Dilbert_X wrote:
VJG wrote:
I never said there was a pegged value they were trying to maintain.You're wrong, and you can't even admit it.JG wrote:
The ECB has made it it's goal to maintain a value well above the Dollar for the Euro.
The only reason you're 'done' is because you've made a complete ass of yourself.
Bet you'll delete this thread like a pussy.
Where did you get the $1.30 figure from?JohnG@lt wrote:
Why would I delete the thread? You do understand the difference between stated goals and unstated yes? Maintaining the Euro at or above the $1.30 mark is very significant psychologically for not only the ECB but currency traders as well. I know you're an uncompetitive person but you do understand the concept of competition, right? It's a matter of pride.Dilbert_X wrote:
VJG wrote:
I never said there was a pegged value they were trying to maintain.You're wrong, and you can't even admit it.JG wrote:
The ECB has made it it's goal to maintain a value well above the Dollar for the Euro.
The only reason you're 'done' is because you've made a complete ass of yourself.
Bet you'll delete this thread like a pussy.
Depends on import/export economy.Dilbert_X wrote:
Where did you get the $1.30 figure from?JohnG@lt wrote:
Why would I delete the thread? You do understand the difference between stated goals and unstated yes? Maintaining the Euro at or above the $1.30 mark is very significant psychologically for not only the ECB but currency traders as well. I know you're an uncompetitive person but you do understand the concept of competition, right? It's a matter of pride.Dilbert_X wrote:
VJG wrote:
I never said there was a pegged value they were trying to maintain.
You're wrong, and you can't even admit it.
The only reason you're 'done' is because you've made a complete ass of yourself.
Bet you'll delete this thread like a pussy.
For an 'uncompetitive person' I'm way ahead of you pal.
And as has already been pointed out, having an uncompetitive currency is not a matter of pride.
A strong currency is not always an advantage - google 'China currency peg US dollar'.
Dilbert_X wrote:
Where did you get the $1.30 figure from?JohnG@lt wrote:
Why would I delete the thread? You do understand the difference between stated goals and unstated yes? Maintaining the Euro at or above the $1.30 mark is very significant psychologically for not only the ECB but currency traders as well. I know you're an uncompetitive person but you do understand the concept of competition, right? It's a matter of pride.Dilbert_X wrote:
VJG wrote:
I never said there was a pegged value they were trying to maintain.
You're wrong, and you can't even admit it.
The only reason you're 'done' is because you've made a complete ass of yourself.
Bet you'll delete this thread like a pussy.
For an 'uncompetitive person' I'm way ahead of you pal.
And as has already been pointed out, having an uncompetitive currency is not a matter of pride.
A strong currency is not always an advantage - google 'China currency peg US dollar'.
EUR/USD Collapses Below 1.30
The EUR/USD has extended yesterday's selloff, collapsing below 1.30 as negative psychological forces strike the Euro. If there were alarm bells, they would be ringing right about now. A perfect combination of events has now given investors ample reason to dump the EUR/USD after weathering headwinds from Greece for so long. Speaking of Greece, fresh austerity program protests have turned violent, casting the feasibility of implementing these measures in a pale light. Yesterday rumors circulated that Spain will need over 200 billion Euros to shore up its own finances. However, we stress that this news is purely speculative, yet significant damage has been done anyways. To make matters worse, Moody's announced today that it is reviewing Portugal for a possible downgrade. The triple whammy has ratcheted up conversations of contagion and the fact that all eyes are on the EU doesn't help matters much. In fact, the IMF president announced that the risk for contagion is considerable. So there you have it, a perfect storm of psychological forces have left the Euro at the mercy of fear. One needs to look no further than the EUR/GBP to gain an understanding of the extent of the Euro's relative weakness at the moment. The fiscal crisis, if we may call it a crisis now, has finally bled into equity markets and the S&P futures look set to open today's session lower again. Meanwhile, the U.S. advance non-farm payrolls number finally turned positive, coming in a bit stronger than expected along with an upward revision for the previous release. This gives investors even more incentive to rush to the dollar amid uncertainty, placing further downward pressure on the EUR/USD. The EU will light up the news wire again tomorrow with an ECB meeting on tap. Although it is highly unlikely that Trichet & Co. will tighten considering the circumstances, the ECB could try to calm the fire and allow the EUR/USD to settle. The UK will also have its parliamentary election tomorrow, meaning the FX markets should be in for an active 24-48 hours.
Technically speaking, the EUR/USD is now trying to stabilize along its psychological 1.28 level with key March 2009 lows not so far away. Although the EUR/USD gave up on 1.30 very quickly, if politicians can manage to calm the markets then the currency pair may be inclined to hover back towards 1.30 over the near-term due to its psychological significance. As for the topside, the EUR/USD faces a marathon of downtrend lines along with intraday highs and the psychological 1.29 and 1.30 levels.
Why? Services are much more significant than industrial plants. Insignificant overhead, lower ramp up time for newly developed products, mobility etc. Factories had their place, and still do in places where the labor is cheap. They're inconsequential in developed countries where we've turned ourselves into the middlemen of the world.Dilbert_X wrote:
Which is why they need to devalue the Euro, or at least let it float so imports don't get too high.
They're all connected. Why did the ECB bail out Greece last week? To placate traders who saw risk in Greece's bonds and drove the price of derivatives (insurance against default) through the roof. You can scoff all you want but it's the traders that keep our economies running.Dilbert_X wrote:
So its a psychological figure in the minds of some traders and analysts, not a central plank of ECB strategy.
Keep digging, might see your head pop up here soon
Because for political reasons they don't want Greece falling out of the Euro.JohnG@lt wrote:
They're all connected. Why did the ECB bail out Greece last week?Dilbert_X wrote:
So its a psychological figure in the minds of some traders and analysts, not a central plank of ECB strategy.
Keep digging, might see your head pop up here soon
Not really.You can scoff all you want but it's the traders that keep our economies running.
Last edited by Dilbert_X (2010-05-14 07:18:20)
Heard of India?JohnG@lt wrote:
Why? Services are much more significant than industrial plants. Insignificant overhead, lower ramp up time for newly developed products, mobility etc. Factories had their place, and still do in places where the labor is cheap. They're inconsequential in developed countries where we've turned ourselves into the middlemen of the world.Dilbert_X wrote:
Which is why they need to devalue the Euro, or at least let it float so imports don't get too high.
Not really. Not for me. ECB only applies to Eurozone countries. Britains commitment to supporting the Euro is negligible at most.JohnG@lt wrote:
Yes, but the ECB made it a problem for the rest of you by making you subsidize their debt.ghettoperson wrote:
Europe is doing fine, it's just Greece that's having problems.
Why do you ask that?Dilbert_X wrote:
Heard of India?JohnG@lt wrote:
Why? Services are much more significant than industrial plants. Insignificant overhead, lower ramp up time for newly developed products, mobility etc. Factories had their place, and still do in places where the labor is cheap. They're inconsequential in developed countries where we've turned ourselves into the middlemen of the world.Dilbert_X wrote:
Which is why they need to devalue the Euro, or at least let it float so imports don't get too high.
Fixed for accuracy.Dilbert_X wrote:
China has taken a huge slice of the American service industry, thanks to their cheap labour costs.
No.Dilbert_X wrote:
So the service industry argument is BS, thats the point.
