Skip to content


EURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials


Zero Hedge
Thursday, January 5, 2012

Much to the chagrin of the US Department of Mass Disinformation, the market has completely ignored the ridiculous ADP data, and has focused squarely on what is happening in Milan where the serial halting of bank trading has resumed. Following the 4th unhalt of UniCredit, its stock is now down 15% on the day as it scrambles to catch up to the fair value represented yesterday courtesy of the rights offering to be about 43% below the market price. As a result while the robotic decoupling in the US continues, as somehow America is supposed to be able to import and export from and to itself and completely ignore that it has about $3 trillion in European bank exposure, the EURUSD has just dipped to below 1.28 for the first time in over a year. Lastly, not helping things is the already noted implosion of refiner Petroplus which just announced that access to all of its credit lines has been suspended, sending the stock down 20%. Looks like it will be a long, cold winter for Europe even as the US decouples to a Dow 36,000 mushroom cloud.

UniCredit – 4 halts and counting:

EURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials UCH%20halts

And EURUSD below 1.28:

EURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials EURUSD%201.28

 

Related Posts with Thumbnails

Posted in General News.

Tagged with America, Europe, EURUSD.

Support #altnews & keep Dark Politricks alive

Any support to keep this site running would be much appreciated! If you see any adverts that interest you then please visit them as it helps me without you even needing to give me any money. A few clicks is all it takes to help keep the servers running and #altnews alive!

Please remember I have written hundreds of articles for this site and I host numerous amounts of material that has been taken offline by their original hosters which would be unavailable for viewing if it wasn't for this site. Therefore I would kindly ask you to help support me so that the site can continue doing what I think is an important job as well as reporting on stories the mainstream media would rather you didn't know about. I personally think it is important to host material such as removed reports that show that even FOX News once repoted on Israeli spy rings following the 9.11 hijackers before September 11th Or publishing the original Liberal Democrats Freedom Bill which was removed from their site once they enacted some watered down rubbish instead once they got into power.

However if you don't want to use the very obvious and cost free ways (to you) to help the site and keep me writing for it then please consider making a small donation, especially if you have a few quid sitting in your PayPal account doing nothing useful!


0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.



Some HTML is OK

or, reply to this post via trackback.



css.php