The EURO is TANKING brehs :blessed:

[☑︎#VoteDemocrat]

Euro sinks closer to parity with US dollar, analysts say
Eurozone currency slides after ECB launches €60bn-a-month quantitative easing programme



Mario Draghi, the ECB president, suggested quantitative easing is working already. Photograph: Emmanuel Dunand/AFP/Getty Images
Heather Stewart

Wednesday 11 March 2015 06.50 EDTLast modified on Wednesday 11 March 2015 11.30 EDT

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City analysts are betting that the euro could soon sink to the same value as the US dollar on foreign exchanges, after the European Central Bank’s quantitative easing programme kicked off.

The euro has fallen sharply since last summer when Mario Draghi, the ECB president, laid the groundwork for QE; but the currency has fallen further since the monthly €60bn (£42bn) bond-buying programme began on Monday.

The dollar’s value has been boosted by strong hints from the Federal Reserve that it could start to raise interest rates later this year.

The euro slipped to $1.0599 on Wednesday, below $1.06 for the first time since April 2003. In total, the euro has lost 35% of its value since last May.

In a fillip for British holidamakers heading to eurozone countries for an Easter break, the euro also continued to fall against the pound on Wednesday, hitting a seven-year low of 70.48p.

Michael Hewson, chief market analyst at CMC Markets, said: “For now the euro looks to be headed towards parity [with the dollar].The next target sits at 1.0500 [the low reach in March 2003] and it remains a very short hop from there to parity.”

Draghi said cheaper borrowing costs for some eurozone countries suggested that QE – which tends to drive up the value of bonds, and thus depress their yields, which move in the opposite direction – was already having an effect.

“We saw a further fall in the sovereign yields of Portugal and other formerly distressed countries in spite of the renewed Greek crisis. This suggests that the asset purchase programme may be shielding euro area countries from contagion,” he said.

However, some analysts have questioned whether the ECB will be able to find sufficient bonds to buy to hit its monthly target.




'Murica

 

[88m3]

I'm not 100% sold on this being "good" for America....

 

[TLR Is Mental Poison]

I was on a camera gear forum and someone said "yo yall nikkas better cop from the EU zone, exchange rates are out of control right nah"

Lo and behold 1 dollar is 0.94 euro

http://www.cnbc.com/id/102496310

Euro could fall to 85 cents against US dollar: Pro

As analysts were waiting to see how fast the euro reaches parity against the U.S. dollar, one foreign exchange pro told CNBC he saw the common currency dropping even further, with the dollar strengthening another 20 percent.

George Saravelos, global co-head of FX research at Deutsche Bank, said the euro could fall to 85 U.S. cents against the greenback.

"The current account surplus is actually helping the euro to weaken," he said Wednesday in an interview with "Squawk on the Street."

"There's just too many savings in Europe, too much cash. When that's combined with what the ECB [European Central Bank] is doing, which is basically pushing extra liquidity in the system, charging for that liquidity, the only solution is for that capital to flow out of Europe."
Read More Prepare for euro-dollar parity—and fast

The euro traded around a 12-year low against the dollar on Wednesday and analysts were betting that party with the greenback would be reached soon. Wednesday morning the euro traded around $1.06.

The move comes as the European Central Bank began its quantitative easing program Monday in an effort to simulate the euro zone's economy.

"It's a once-in-a-century event, really. We've never had a period where the Fed is about to hike rates over the next few months while at the same time the second-biggest economic bloc of the world is engaging in an unprecedented QE with negative rates, " Saravelos said.

Right now there are more foreigners invested in Europe than there are Europeans abroad, he said.

"That has to change. Europeans need to become a net creditor to the rest of the world. They need to buy a lot more foreign assets for that adjustment to be completed."

At this rate shyt will be 1:1 like next month

I was gonna go to Peru this fall but fukk it we mite have to do Europe again

When Janet pushes that up button that Euro shyt finna flush down the toilet

 

[Truth200]

 

[Bernie Madoff]

 

[Domingo Halliburton]

this is like the third thread on this but yes, it looks like it's going to parity.

but still why would you buy gear from Europe if the exchange rate now is 1.06? you're going to have to wait a couple months before it falls below 1

 

[No1]

I was on a camera gear forum and someone said "yo yall nikkas better cop from the EU zone, exchange rates are out of control right nah"

Lo and behold 1 dollar is 0.94 euro

http://www.cnbc.com/id/102496310



At this rate shyt will be 1:1 like next month

I was gonna go to Peru this fall but fukk it we mite have to do Europe again

When Janet pushes that up button that Euro shyt finna flush down the toilet

Some are not as happy about it or cautious at least.

There's a currency war going on, and the United States is losing. As of Wednesday, the euro had fallen to a 12-year low of $1.05, down from as much as $1.39 just last year. That's a 24 percent drop in 11 months, to be exact, and there's no reason to expect it to stop anytime soon.

Now a strong dollar is good for anyone who's planning a trip overseas, but it's bad news for anyone who's planning on selling stuff there. That's why stocks fell, with markets sliding into negative territory for the year this week, as multinationals that depend on foreign sales took another hit. After all, it's not just the euro that's falling against the dollar, but almost every other currency in the world, too — with Turkey and South Africa's falling more than most on Tuesday.

 

[Domingo Halliburton]

DXY is almost at 100. That's the dollar index. What that is in an index of the dollar vs. euro, yen, pound, canadian dollar, krona and franc. Most weighted to the Euro though. So the dollar has been going up against practically everybody.

It's creating a lot of strain on countries that peg their currency to ours (like China).

 

[unit321]

Canadian dollar has already dropped.

 

[PewPew]

I just came in to say I have no fukking idea what yall are talking about

Only thing i got from this thread is that the dollar is going up like it's a tuesday

 

[88m3]

The Euro is going to 0.


That dream apartment in Europe just got a little bit cheaper.





I'm honestly a bit worried.

 

[TLR Is Mental Poison]

this is like the third thread on this but yes, it looks like it's going to parity.

but still why would you buy gear from Europe if the exchange rate now is 1.06? you're going to have to wait a couple months before it falls below 1

For some of the gear it winds up being cheaper. There's a lens I want that's 1100 here that would cost 800 there cause they did the MSRP based on exchange rates years ago

shyt got me

 

[☑︎#VoteDemocrat]

For some of the gear it winds up being cheaper. There's a lens I want that's 1100 here that would cost 800 there cause they did the MSRP based on exchange rates years ago

shyt got me

With larger dollar amounts the shyt is truly mind-blowing

Its got me pondering confirming orders and shyt

 

[Apollo Creed]

Wait so are dudes talking about copping Euros for the low or just buying stuff from Euro sites?

 

[Edub]

This was bound to happen and will continue for a while...they created a United currency without each countries government being equally economically fit. Italy Spain Greece etc. all are dragging this euro process down. Germany may go back to the Deutsche Mark before it's over...1.00us: .50dm