Jan. 15, 2015, 7:09 AM
- The Swiss market index is off by 11% after the SNB gives up its fight to cap the strength in the franc by defending the CHF 1.20 floor vs. the euro.
- Interestingly, the iShares MSCI Switzerland ETF (NYSEARCA:EWL) is up 2.4% premarket as it's priced in dollars and the franc is higher by 16%.
- There's no premarket action yet in the CurrencyShares Swiss Franc Trust (NYSEARCA:FXF).
Dec. 18, 2014, 7:29 AM
- Attempting to defend its CHF1.20 floor for the euro, the SNB cuts its deposit rate to negative 0.25%, and expands its target range for three-month Swiss libor to -0.75% to 0.25%. Negative rates will be imposed on balance above CHF10M.
- "The SNB reaffirms its commitment to the minimum exchange rate of CHF 1.20 per euro, and will continue to enforce it with the utmost determination."
- Against the dollar, the franc (NYSEARCA:FXF) is off 0.65% to its lowest in more than two years, and it's weaker by 0.3% vs. the euro to CHF1.2046.
- The Swiss stock market (NYSEARCA:EWL) is higher by 2%, inline with a broad European rally.
Nov. 21, 2014, 7:27 AM
- "We will do what we must to raise inflation and inflation expectations as fast as possible," Mario Draghi told a banking conference, promising faster asset purchases as needed.
- The Stoxx 50 (NYSEARCA:FEZ) is higher by 2.2%, led by a 2.4% gain in Spain (NYSEARCA:EWP) and a 2.3% advance in Italy (NYSEARCA:EWI). Germany (NYSEARCA:EWG) and France (NYSEARCA:EWQ) are up 2%, and the U.K. by 1%.
- The euro (NYSEARCA:FXE) is down 0.9% and buying $1.2432.
- ETFs: VGK, FEZ, EWP, DFE, IEV, HEDJ, EWL, EPV, EZU, EWD, NORW, EIRL, EWO, FEU, EWN, EWK, EDEN, FEP, EWGS, UPV, EURL, ENOR, ADRU, FEEU, EFNL, GERJ, DBEU, EURZ, FSZ, IEUR, FIEU, QESP, SMEZ, ESTX, HEZU, FEUZ
Jun. 5, 2014, 7:55 AM
- The Stoxx 50 (FEZ) is up 0.8% after being about flat ahead of the ECB rate decision, at which the central bank cut all three of its benchmark rates, including taking the deposit facility rate into negative territory.
- Italy (EWI) with a 1.3% gain and France (EWQ) ahead 1% lead the way.
- The euro (FXE) tumbles about 40 pips, now off 0.3% on the session and buying $1.3563.
- Europe equity ETFs: RSX, VGK, EWG, FEZ, GREK, EWP, EWI, DFE, RUSL, IEV, RSXJ, EWL, ERUS, EWU, RUSS, EPV, EZU, EWD, HEDJ, NORW, EWQ, EPOL, EIRL, PLND, EWO, RBL, GXF, EWN, FEU, EWK, FDD, EWGS, FEP, EDEN, UPV, EWUS, DBGR, PGAL, ADRU, ENOR, GERJ, DXGE, FEEU, FGM, EURL, FKU, EFNL, EUDG, DXPS, FSZ, EURZ, FIEU, RUDR, DBEU, HEWG, DBUK
- Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
- ECB chief Mario Draghi's press conference begins at 8:30 ET.
May 3, 2012, 8:51 AM
Alongside the surging euro are European equity markets giving up much of their big early gains as the early indication from Draghi's press conference is no new candy. Stoxx 50 +0.3%, after being up about 1.5% before the talk started.| May 3, 2012, 8:51 AM
Mar. 14, 2012, 11:40 AM
Swiss parliament rejects calls for stricter oversight of the SNB following massive currency market interventions and the recent scandal that caused the departure of its President. The franc dives as this seemingly gives a green light for the bank to continue its policy of weakening the currency. FXF -0.7%.| Mar. 14, 2012, 11:40 AM
Aug. 16, 2011, 1:27 PMEuropean shares are closed for the day and unable to register their displeasure at no new magic bullet being unveiled in Paris. Euro-ETFs trading in the states are moving lower. Germany EWG -3.3%, Italy EWI -3.6%, Spain EWP -2.8%, MSCI Europe VGK -2.1%, European financials EUFN -2.4%. | Aug. 16, 2011, 1:27 PM | 2 Comments
Aug. 11, 2011, 10:56 AM
Aug. 11, 2011, 10:33 AMEuropean shares get another jolt higher as CNBC reports senior government sources saying Italy and France will impose a short-selling ban after the close of trading today. France +1.7%, more than 5% higher than its level 2 hours ago. Italy +3%. | Aug. 11, 2011, 10:33 AM | 4 Comments
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