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The euro is -0.2% at $1.3275 after Eurogroup Chairman Jean-Claude Juncker said last night that...

The euro is -0.2% at $1.3275 after Eurogroup Chairman Jean-Claude Juncker said last night that the currency "is dangerously high." The euro traded above $1.34 this week for the first time since February 2012, boosted by increasing confidence that the eurozone has averted catastrophe. With Japan, Australia, Switzerland, the U.K. and Canada also bemoaning the strength of their currencies, something's got to give.
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Comments (3)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    "boosted by increasing confidence that the eurozone has averted catastrophe. "...yes look at the car registrations for the year...down 16.3%.....Chevy & Ford down 27%....that sounds like growth to me...I guess the new normal is when we are supposed to be down 30%..but wea re only down 27%...and that is considered growth....
    16 Jan 2013, 07:11 AM Reply Like
  • schatzl
    , contributor
    Comments (391) | Send Message
     
    Every single fundamental has been deteriorating and some fundamentals even at an accelerated pace.

     

    You name it: house prices, non-performing loans, industrial production, unemployment, consumption, capital investment, deficits, tax receipts, retail sales volume, car sales etc.

     

    Absolutely every economic indicator is signalling severe contraction, yet since the ECB has become the sovereign debt paymaster and interest rates on treasuries are dropping, we've solved all our issues and expect after a low growth 2013, 2014 to be a great year.

     

    It's bizarre.
    16 Jan 2013, 07:51 AM Reply Like
  • Michael Clark
    , contributor
    Comments (9710) | Send Message
     
    Pump up the Europe; knock down the Dollar: assets rise. Everyone knows this formula. Bernanke gave them this very instruction three months ago.
    16 Jan 2013, 07:37 AM Reply Like
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