EUR might drop below USD

[tee-rex]

Looks like a cold comfort to ordinary Europeans. Now we see complaints about the euro having been too strong, I think in a short time span we will also see complaints about the euro being too weak. When you don't know where to go, no wind blows in the right direction.

Ordinary Europeans may see the cost of some imported goods increase, but the loss of purchasing power of the Euro due to QE will be gradual. If the economy pics up due to QE, they might not be disappointed after all.

This is a big if. So far we saw that the money primarily went to financial markets which had been making new highs on "steroids". How much of the new money will enter real economy remains to be seen. Inflation (and the subsequent rise in prices) is always disappointing, even despite the fact that it lowers unemployment.

[BillyBobZorton]

Shocking news: A bank in Spain named "Banco Madrid" has suspended any withdrawal of money of all deposits. Can anyone in there confirm?

Google's your friend   http://www.reuters.com/article/2015/03/16/us-bpa-bancomadrid-idUSKBN0MC0NK20150316

Damn, i thought he was trolling for a sec. Scary shit :s

I told you lol. I was the first I think to post about it here, now there are several threads with more information. It seems like it shouldn't spread across other banks, but you never know.

[chmod755]

I think if it really goes down to 0.85 USD per EUR (as Deutsche Bank suggests) the Fed will  push the Dollar back to ~1.2.

[deisik]

I think if it really goes down to 0.85 USD per EUR (as Deutsche Bank suggests) the Fed will  push the Dollar back to ~1.2.

Right now we see a strong correction unfolding. The Euro rose back to 1.08 (from as low as 1.04). Gold has also heavily fought back, gaining almost 2% today, putting to shame a lot of naysayers around here, though none of them had been able to support their position on gold going further down...

[manwithat]

Shocking news: A bank in Spain named "Banco Madrid" has suspended any withdrawal of money of all deposits. Can anyone in there confirm?

hi, I am from Spain, but we don't have more information than you. The only new I can give you is that huge amounts of money were withdrawn before this, because some people had good information.

One more reason to use bitcoin.

[leopard2]

funny that they call it FIAT money and banks are supposed to be trustworthier than Bitcoin

I have NEVER heard of a Bitcoin wallet's ability to withdraw, being restricted 

the deposit protection schemes are way to small to protect everybodys account and when the shit hits the fan, the only question is: WILL THERE BE ENOUGH LIQUIDITY LEFT TO DRIVE BTC TO THA MOON?

[manselr]

Shocking news: A bank in Spain named "Banco Madrid" has suspended any withdrawal of money of all deposits. Can anyone in there confirm?

hi, I am from Spain, but we don't have more information than you. The only new I can give you is that huge amounts of money were withdrawn before this, because some people had good information.

One more reason to use bitcoin.

Fortunately I guess you weren't affected. I've heard some guy had 700.000 in his bank and now they are only saying that they may be able to recover only 100.000 € out of these 700.000. Scary shit indeed.

[AtheistAKASaneBrain]

Shocking news: A bank in Spain named "Banco Madrid" has suspended any withdrawal of money of all deposits. Can anyone in there confirm?

hi, I am from Spain, but we don't have more information than you. The only new I can give you is that huge amounts of money were withdrawn before this, because some people had good information.

One more reason to use bitcoin.

Fortunately I guess you weren't affected. I've heard some guy had 700.000 in his bank and now they are only saying that they may be able to recover only 100.000 € out of these 700.000. Scary shit indeed.

Yup this is pretty much confirmed at this point. Those holding more than 100K are out of luck, they will not recover their holdings.. crazy.

[Valta Crypto]

EUR/USD Forecast Mar. 23-27
http://www.forexcrunch.com/category/forex-weekly-outlook/eur-usd-outlook/

[manwithat]

US will be raising interest rates this next year because its economy is doing so well, they don't have any new stimulus planned and no new money being printed gives people the impression that our currency is stable. Because of this, people will think the US dollar is more stable than the Euro which is why the dollar is gaining value over the Euro.

[herogold]

It's pure shit seeing your currency get worth less and less.

And it will only gets worse if they keep feeding Greece billions of our money for nothing.

[Amph]

It's pure shit seeing your currency get worth less and less.

And it will only gets worse if they keep feeding Greece billions of our money for nothing.

it's also bad if your are planning to convert them to usd, and you come from btc-->euro trading, you will end up losing money

[tee-rex]

It's pure shit seeing your currency get worth less and less.

And it will only gets worse if they keep feeding Greece billions of our money for nothing.

It's pure shit seeing your currency get worth less and less.

And it will only gets worse if they keep feeding Greece billions of our money for nothing.

You've been marked by moderator.

[chmod755]

Now it's 1.09 USD again. I wonder if it goes up again or lower.

[bitboy11]

Is it possible that EUR might drop below USD in 2015? Syriza & ECB QE program
pushing price even lower against USD or do you think euro is at it's bottom right now
and is going to rise soon?
Discussion.

This is entirely possible since it is already so close to the US value.
If another Euro country asks for a bailout again this year, it is sure to happen.

[manwithat]

Is it possible that EUR might drop below USD in 2015? Syriza & ECB QE program
pushing price even lower against USD or do you think euro is at it's bottom right now
and is going to rise soon?
Discussion.

This is entirely possible since it is already so close to the US value.
If another Euro country asks for a bailout again this year, it is sure to happen.

Now, Greece is the only country with problems. The rest of countries have lower bond rates Than USA.

[arbitrage001]

In a deflationary pressure, dollar value can go up the roof.

[cellard]

Is it possible that EUR might drop below USD in 2015? Syriza & ECB QE program
pushing price even lower against USD or do you think euro is at it's bottom right now
and is going to rise soon?
Discussion.

This is entirely possible since it is already so close to the US value.
If another Euro country asks for a bailout again this year, it is sure to happen.

Now, Greece is the only country with problems. The rest of countries have lower bond rates Than USA.

A lot of the south European countries if not all of them are struggling to pay their debts. Lots of them have big problems and we will see it unfold in the following months.

[aso118]

Now, Greece is the only country with problems. The rest of countries have lower bond rates Than USA.

Ten year yield rates (as of Feb-2015)
Greece: 7.7%
Cyprus: 6.0%
Portugal: 4.9%
Italy: 3.7%
Spain: 3.6%

http://www.ecb.europa.eu/stats/money/long/html/index.en.html

Compare this with the US, which has less than 2%.

[BillyBobZorton]

What would happen if the FED actually raise the interest rates: will the USD/EUR drop under 1.20, or, because there is nothing to speculate anymore, will the USD/EUR rise again? Isn't the FED going to adjust its decision according to the USD/EUR rate, to avoid a "too strong" USD that would negatively influence the export?