Gold/Swiss at New All-Time Highs (in Euro terms)

While we see the effects the Greek (and now Italy) debt problems on our own US markets, with news of problems usually resulting in a move lower in US stocks (which is usually followed at some point by a resumption of the rally, but we’ll leave that for another day) – it isn’t as clear to those of us on this side of the pond what these moves have meant through the eyes of those whose assets are held in Euros.

The following show that it is quite a different picture when viewed through the lens of Euro denominated investments. First, the Euro has plunged against the Swiss Franc in the last few days, reaching new all time lows. Then, we see that Gold as priced in Euros is up over 8% in just the past few days on its ways to new all time highs.

Both of these tell us that, despite the Euro being about 70% above its all time low against the dollar in 2000 (0.827), and even securely above its financial crisis low (1.19), there are big bets being made against the Euro. It is just that the bets are being denominated in Gold and Swiss Franc rather than the US Dollar.

It has long been said that the US Dollar is the least ugly person at the dance, and all things being equal that is what keeps it from truly tanking – but with Gold and Swiss (in Euro terms) hitting new all time highs, it seems like some pretty people have finally arrived.

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Disclaimer
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.

Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.

Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.

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