ProShares Short Euro ETF (EUFX) - NYSEARCA
  • Thu, Mar. 3, 7:52 AM
    • In the latest Reuters poll, 60% of economists expect the ECB to boost its QE program next week, up from 50% who thought so for the January and February meetings.
    • "The ECB failed to live up to its own hype in December, but we doubt that it will be prepared to disappoint markets again," says one.
    • The vast majority also expect the central bank to trim another 10 bps off of its already negative deposit rate; more than a few see a 20 bp cut.
    • Arguing in favor of more stimulus, Mario Draghi this week hinted at it, and PMI surveys yesterday showed private sector growth slowing and price pressures easing.
    • ETFs: FXE, EUO, ERO, DRR, ULE, EUFX, URR
    | Thu, Mar. 3, 7:52 AM | 1 Comment
  • Thu, Mar. 3, 3:27 AM
    • French economy minister Emmanuel Macron says that if Britain votes for an EU exit:
    • France will relocate its migrant camp from Calais to Britain.
    • France will roll out "a red carpet" for bankers fleeing London.
    • That the bilateral relationship between France and Britain could change abruptly, including the creation of new obstacles to trade.
    • That Brexit could torpedo a deal with France, known as Le Touquet, that allows Britain to carry out border controls and keep unwanted migrants on the French side of the Channel.
    • Macron says that the EU would be weakened as a military, diplomatic and economic powerhouse if the UK left. But irrespective of the outcome of the referendum, the debate has damaged the bloc’s unity. “The EU has no choice but to become a true military and diplomatic power, something it has been always reluctant to be, mostly by lack of ambition.”
    • Source: FT
    • ETFs: FXE, EUO, ERO, EWQ, DRR, TRF, CEE, GUR, ULE, EUFX, ESR, URR
    | Thu, Mar. 3, 3:27 AM | 16 Comments
  • Mon, Feb. 29, 6:18 AM
    • The inflation picture in the eurozone further deteriorated in February, giving ECB policymakers more bad news to digest just a week before their next meeting.
    • Consumer prices in the 19-nation bloc declined to -0.2% from a positive reading of 0.3% in January, displaying its worst figure in the last year.
    • Core inflation, which strips out volatile elements such as food and energy, was at 0.7%, down from 1% in the prior month.
    • Euro -0.8% to $1.0894.
    • ETFs: FXE, EUO, ERO, DRR, ULE, EUFX, URR
    | Mon, Feb. 29, 6:18 AM
  • Thu, Feb. 25, 6:24 AM
    • Eurozone consumer prices rose less than initially estimated last month, increasing the pressure on the European Central Bank to take steps to sustain the region's recovery.
    • According to the European Union's statistics office, the inflation rate was 0.3%, less than the 0.4% reported on Jan. 29.
    • ECB policy makers will review their stimulus package at a monetary-policy meeting on March 9-10, when they’ll also release revised economic projections.
    • Euro +0.2% to $1.1030.
    • ETFs: FXE, EUO, ERO, DRR, ULE, EUFX, URR
    | Thu, Feb. 25, 6:24 AM | 1 Comment
  • Thu, Feb. 4, 4:09 AM
    • The risk of acting too late on ultra low inflation is greater than that of acting too early as a wait-and-see stance could lead to a lasting loss of confidence, ECB President Mario Draghi said at a Bundesbank event in Frankfurt.
    • "And if that were to happen, we would need a much more accommodative monetary policy to reverse it," he added. "Seen from that perspective, the risks of acting too late outweigh the risks of acting too early."
    • Euro +0.4% to $1.1159.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Thu, Feb. 4, 4:09 AM | 19 Comments
  • Fri, Jan. 29, 6:40 AM
    • Euro-area inflation accelerated in January, providing a reprieve for European Central Bank officials that may prove temporary as commodity prices continue their descent and emerging markets slow.
    • According to the EU's statistics office, consumer prices rose an annual 0.4%, after a 0.2% gain last month.
    • Economists are still expecting the ECB to press the button on further stimulus as soon as March following a dovish meeting of the central bank last week.
    • Euro -0.2% to $1.0922.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Fri, Jan. 29, 6:40 AM
  • Thu, Jan. 21, 8:38 AM
    | Thu, Jan. 21, 8:38 AM | 28 Comments
  • Tue, Jan. 19, 5:30 AM
    • Eurozone inflation rose slightly to 0.2% in December, in line with expectations, giving a bit of relief for the ECB and its quantitative easing plan.
    • But with disappointing industrial production numbers and slow growth, analysts are questioning whether the central bank could signal more stimulus when it meets this coming week, having sorely disappointed markets last month.
    • Euro -0.2% to $1.0872.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Tue, Jan. 19, 5:30 AM | 1 Comment
  • Tue, Jan. 5, 6:19 AM
    • Euro-area inflation was weaker than economists predicted in December, when the European Central Bank stepped up its stimulus program.
    • According to preliminary data from Eurostat, consumer prices remained unchanged at an annual 0.2%, below expectations for a 0.3% rise.
    • "It's a major disappointment," said Jane Foley, a forex strategist at Rabobank. "We've seen this story again and again. Despite very weak monetary conditions, inflation is refusing to budge."
    • Euro -0.7% to $1.0762.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Tue, Jan. 5, 6:19 AM | 4 Comments
  • Dec. 7, 2015, 11:24 AM
    • “There is no doubt in our minds that euro down will again become a theme over time, but regrettably that time is not now,” says Robin Brooks, Goldman's chief currency strategist.
    • Brooks' team's new forecast sees the euro at $1.07, $1.05, and $1 in the next three, six, and 12 months vs. $1.02, $1, and $0.95 prior to the ECB's (mostly) non-action last week. At year-end 2017, Goldman sees the common currency at $0.90 vs. $0.80 previously.
    • "This price action has all the hallmarks of the Yen under Governor Shirakawa, as opposed to Governor Kuroda, raising for us the unpleasant possibility that the idiosyncratic euro weaker story has been compromised," says the team. Even if Thursday's move turns out to be a mistake, the bears have been burned enough to make the euro's down move less likely to play out.
    • Previously: Goldman's euro bear rethinks position (Dec. 4)
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Dec. 7, 2015, 11:24 AM | 4 Comments
  • Dec. 4, 2015, 12:39 PM
    • "Today [Thursday] was not the most fun day I’ve ever had," said Goldman Chief Currency Strategist Robin Brooks, after the euro zoomed 3.1% higher following the ECB policy statement and press conference. "What’s clear is the meeting sent a very confusing message."
    • Among the most bearish on the euro on the Street - he sees the common currency falling to $0.95 in a year - Brooks had predicted a "dovish" surprise from Mario Draghi, but instead got a nominal cut in the deposit rate and only an extension (not a boost) to QE. The euro erased a month's worth of losses in one session (it's given back about one-third of that gain today). It's currently at $1.0839.
    • "We badly misread this meeting ... Even in the unlikely event that today’s disappointment was a mistake, we think it has cost enough credibility that the euro-down story we had envisaged is now less likely to play out."
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Dec. 4, 2015, 12:39 PM | 4 Comments
  • Dec. 3, 2015, 8:40 AM
    • Previously soft-scheduled to end in September of 2016, the ECB's QE will go on until at least March 2017, says the central bank's boss Mario Draghi, opening his post-policy meeting press conference.
    • Jaded financial markets want more and are voting thumbs down this on "tepid" measure. Interest rates and the euro are on the move higher, and investors are unloading stocks.
    • Flat ahead of the press conference, the Stoxx 50 (NYSEARCA:FEZ) is lower by 2.6%, and the euro is now higher by 1.7% to $1.08. Germany's (NYSEARCA:EWG2.4% decline is leading the way.
    • ETFs: FXE, VGK, EUO, FEZ, HEDJ, ERO, IEV, EPV, EZU, DRR, FEU, EEA, EUFX, EURL, ULE, FEP, UPV, DBEU, URR, ADRU, HEZU, FEEU, IEUR, FIEU, DBEZ, FEUZ, SBEU, HFEZ, HEGE, HGEU
    | Dec. 3, 2015, 8:40 AM | 24 Comments
  • Dec. 3, 2015, 7:56 AM
    | Dec. 3, 2015, 7:56 AM
  • Dec. 3, 2015, 4:42 AM
    • The ECB's governing council is meeting in Frankfurt to set monetary policy, and president Mario Draghi has plenty of excuses to institute more stimulus measures.
    • With inflation at just 0.1%, unemployment still over 10% and bank lending disappointing, economists expect the central bank to extend or add to its quantitative easing program and lower interest rates deeper into negative territory.
    • The decision comes at 12:45 p.m. GMT, followed by Mario Draghi's press conference 45 minutes later.
    • Euro -0.6% to $1.0554.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Dec. 3, 2015, 4:42 AM | 1 Comment
  • Dec. 2, 2015, 6:33 AM
    • Eurozone inflation held steady at a lower than expected 0.1% in November, giving further encouragement to ECB president Mario Draghi to pump up the central bank's contested bond-buying program tomorrow.
    • In March, the ECB launched a more than €1T stimulus plan running through September 2016 in order to snap a long period of low or negative inflation in the region, but given recent economic figures, that program will likely get a boost.
    • Euro -0.4% to $1.0596
    • Previously: Eurozone PMI, unemployment displays modest recovery (Dec. 01 2015)
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Dec. 2, 2015, 6:33 AM | 1 Comment
  • Nov. 30, 2015, 3:26 AM
    • The euro is headed for a steep monthly decline as economists unanimously forecast the ECB will unveil additional stimulus this week.
    • The currency has weakened 3.8% in November, its biggest loss since a 4.2% decline in March, when the central bank embarked on a €1.1T asset-purchase program.
    • In contrast, the U.S. Federal Reserve is widely expected to hike interest rates at its mid-December policy meeting, sending up the dollar index to 100.23, its highest level since mid-March.
    • Euro -0.1% to 1.0585.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, FORX, USDU, EUFX, ULE, URR
    | Nov. 30, 2015, 3:26 AM | 4 Comments
EUFX Description
ProShares Short Euro seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the U.S. dollar price of the euro.
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