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Carnage Continues Across European Stocks; EURUSD Surges Above 1.1500 As WTI Crude Tumbles To $38 Handle

Monday, August 24, 2015 3:42
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(Before It's News)

Germany's DAX is now down 15% since the “China doesn't matter” devaluation began with most European borses down 3-5% from Friday's close as the day started off with a modest bounce only to test new lows. EURUSD is now up 500 pips in 4 days back to 7 month highs. European bond risk is surging with Portugal up 50bps since China's debacle began. And finally crude continues to get battered, now testing the $38 handle for the first time since Feb 09.

As the massive EURCNH carry trade contonues to be unwound, EUR surges higher to 7 month highs…not what Draghi ordered…

And as carry goes, so goes risk… European stocks are being battered…

And crude has collapsed through another big figure to the $38 handle…

Charts: Bloomberg




Source: http://silveristhenew.com/2015/08/24/carnage-continues-across-european-stocks-eurusd-surges-above-1-1500-as-wti-crude-tumbles-to-38-handle/

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