CurrencyShares Euro Trust ETFNYSEARCA
Today, 4:00 AM
- Italians are heading to the polls for a referendum on constitutional reform that could call the shots for global markets in the week ahead.
- If the measures are rejected, Prime Minister Matteo Renzi would likely resign, further shaking Italy's vulnerable banks, the euro and possibly causing the next Brexit-like tremor for the markets.
- The political instability would also represent a new setback for the EU, since Renzi's opponents are dominated by anti-establishment forces.
- The polls opened at 7 a.m. local time and will close at 11 p.m. Exit polls will be released as soon as voting booths close, with a definitive result expected by about 1 a.m. on Monday.
- ETFs: FXE, EUO, EWI, ERO, DRR, ULE, EUFX, URR, HEWI, DBIT
- Related bank tickers: OTCPK:UNCFF, OTCPK:IITSF, OTCPK:IITOF, OTC:MDIBF, OTCPK:ISNPY, OTCPK:BPESY, OTC:UNCFY, OTCPK:MDIBY, OTCPK:BPESF
Wed, Nov. 23, 10:30 AM
- We'll get today's weakish data out of the way first - jobless claims unexpectedly jumped last week, and new home sales disappointed in October (and Sept.'s print was revised lower).
- On the other hand, there was an unexpected big lift in consumer sentiment since the election, durable goods for October, surprised to the upside, and the 10-year Treasury yield has popped to more than a one-year high of 2.39%.
- The dollar index has surged to its highest level in about a decade, with particular strength against the yen (NYSEARCA:FXY) and euro (NYSEARCA:FXE). UUP +0.7%
- Gold, on the other hand, continues its big retreat, down 2.15% to $1,185 per ounce - its lowest price since February. GLD -2.15%
- ETFs: GLD, IAU, UUP, PHYS, SGOL, UGL, UDN, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, USDU, GYEN, GEUR, UBG, QGLDX
Fri, Nov. 18, 1:17 PM
- The strength in the U.S. dollar may just be getting started after post-election forecasts were too conservative, says Credit Suisse.
- That's after the ICE U.S. Dollar Index increased to its highest level in more than 13 years today.
- EUR/USD: Credit Suisse predicts a 1.03 exchange rate in 90 days and 1.00 parity in a year vs. 1.05 prior on both and 1.05872 current.
- USD/JPY: The investment firm targets a 111 rate in three months and 108 in 12 months vs. 100 and 108 prior, respectively.
- GBP/USD: Brexit uncertainty is a factor of course, observes CS. The forecast arrives at 1.20 for 3-months and 12-months vs. 1.16 prior and 1.2338 current.
- USD/CNY: Some depreciation is seen being allowed by the Chinese government. CS lines up an exchange rate of 7.01 for 3-months and 7.33 in a year. vs. 6.8833 current.
- USD/MXN: Traders beware of Nafta repeal risk, warns CS. A peso at 23.0 per USD in 3 months and 25.0 in a year is the cautious forecast. The peso stood at 20.5011 per USD at last check.
- Source: Bloomberg
- ETFs: FXE, UUP, EUO, UDN, FXB, CYB, ERO, CNY, GBB, USDU, DRR, ULE, EUFX, FXCH, URR.
Fri, Nov. 18, 8:47 AM
- The euro (NYSEARCA:FXE) has managed to climb back to positive territory vs. the greenback in the past couple of hours, but if it closes the session in the red, it would be the 10th consecutive day of losses - thus extending its longest-ever losing steak against the dollar.
- At its high on election night, the euro was at $1.13, but this morning can buy just $1.0622. The next level technicians are watching is the $1.0538 low hit last December. Beyond that, there's the $1.0456 hit in March 2015.
- If that breaks, is parity next?
- ETFs: FXE, EUO, ERO, DRR, ULE, EUFX, URR
Fri, Nov. 11, 5:01 AM
- Central banks from India to Indonesia have stepped in to stabilize their currencies on deepening concerns that Donald Trump will pursue policies that spur capital outflows from developing economies and weaken their exports.
- Meanwhile, the dollar is on course for its best week in a year, racking up another round of gains against the yuan and peso and steadying just off the previous day's highs against the euro and yen.
- ETFs: FXE, UUP, EUO, FXY, YCS, UDN, CYB, ERO, CNY, INR, ICN, JYN, USDU, DRR, ULE, EUFX, FXCH, YCL, URR
Thu, Oct. 20, 8:48 AM
- The euro (NYSEARCA:FXE) has popped higher and European shares (NYSEARCA:FEZ) lower after Mario Draghi - in his post-ECB meeting press conference - says there was no discussion of extending QE at today's get-together.
- While the vast majority of watchers hadn't expected any policy changes today, many had anticipated some movement towards expanding or extending the bank's QE program, which is slated to end early next year.
- Flat on the session moments ago, the euro is now higher by 0.5% vs. the dollar. The Stoxx 50 has turned lower by 0.25%.
- ETFs: FXE, VGK, EUO, HEDJ, FEZ, ERO, IEV, EPV, EZU, DRR, FEU, EURL, DBEU, ULE, EEA, EUFX, FEP, HEZU, UPV, IEUR, URR, FEEU, ADRU, FIEU, DBEZ, FEUZ, SBEU, HFEZ, HFXE, DEZU, FIEE, GSEU, HGEU, PTEU, RFEU
Tue, Oct. 11, 1:14 PM
- Cable (NYSEARCA:FXB) is down another 1.75% vs. the greenback today to another multiyear low of $1.2145. It's also lower by more than 1% vs. the euro (NYSEARCA:FXE) to easily its weakest post-Brexit level (though during the financial crisis, it was even weaker vs. the euro).
- British stock prices (NYSEARCA:EWU) haven't been complaining, though the FTSE today did shed 0.4%.
- Making for a good excuse for today's selling is a report suggesting the U.K faces tax revenue losses of £66B in event of a hard Brexit. One watcher suggests last week's flash crash in the pound may have just been a "toe in the water."
Wed, Oct. 5, 4:35 AM
- U.K. Prime Minister Theresa May said she's not worried about the pound's recent fall to a 31-year low against the dollar, although the prospect of a hard Brexit is spooking investors and sent sterling down to $1.2685 overnight.
- The euro has meanwhile strengthened against the dollar on reports that the ECB is considering tapering its QE program, but the central bank shot down the rumor, which suggested it could wind back its bond buying by around €10B a month.
- ETFs: FXE, EUO, ERO, EWU, DRR, ULE, EUFX, URR, FKU, DXPS, DBUK, QGBR, HEWU
Thu, Sep. 8, 9:32 AM
- The ECB earlier kept policy on hold, leaving central bank stimulus fans looking to Mario Draghi's post-meeting press conference for assurance the central bank was standing by to cut rates further and/or boost its QE program.
- While Draghi trotted out his usual line about using "any means necessary," to prop up the economy, he's keeping his powder dry for now. Among things not discussed at the ECB meeting, he says, was helicopter money or buying stocks.
- He also pushed back against the perception that negative rates are a negative for the banks. Stop using low rates as "justification for everything that goes wrong with banks today," he argues. Low rates help the economy, which ultimately helps bank balance sheets.
- Flat ahead of the press conference, the Stoxx 50 (NYSEARCA:FEZ) is now lower by 0.9%, while the euro (NYSEARCA:FXE) adds to gains, now up 0.75% to $1.1322.
- U.S. futures were flat to up most of the morning, but turned lower during the press conference. The S&P 500 (NYSEARCA:SPY) has opened down 0.25%.
Thu, Sep. 8, 8:45 AM
- The opening statement from Mario Draghi contains his usual material - that the ECB will monitor developments and will provide accommodative policy with all available instruments, as necessary.
- Economists at the ECB lift their 2016 GDP growth forecast to 1.7% from 1.6%, but cut 2017 to 1.6% from 1.7%. 2018 is seen at 1.6%.
- The euro (NYSEARCA:FXE) remains higher by 0.6% to $1.1303, and European stocks (NYSEARCA:FEZ) marginally lower.
- Previously: ECB keeps policy on hold; Draghi up in 45 minutes (Sept. 8)
Thu, Sep. 8, 5:33 AM
- As Mario Draghi prepares to face the cameras today, analysts have rarely been so divided over what to expect from the ECB president.
- Officials signaled they were ready to unleash fresh stimulus to support the eurozone immediately following Brexit, but economic data since has been mixed and Draghi hasn't spoken publicly for seven weeks.
- One thing is clear: The bank is still far from hitting its inflation goal of just below 2%, a target it has missed for more than three years.
- The ECB will issue its formal statement on monetary policy at 7:45 a.m ET, with Draghi's press conference 45 minutes later.
- Euro +0.3% to $1.1273.
- ETFs: FXE, EUO, ERO, DRR, ULE, EUFX, URR
Thu, Aug. 25, 4:12 AM
- The German Ifo Institute's business-climate index has dropped to 106.2 in August from 108.3 in July and missed consensus for a rise to 108.5.
- The current-situation reading fell to 112.8 from 114.8 and undershot forecasts of 114.9, while the expectations print dropped to 100.1 from 102.1 and missed estimates of 102.5.
- The DAX takes a plunge and is -1.13%, although the euro remains steady and is +0.1% at $1.1273.
- CESifo Web site
- ETFs: FXE, EUO, EWG, ERO, DAX, EUFN, GF, DRR, DXGE, DBGR, HEWG, ULE, EUFX, EWGS, BUNL, URR, BUNT, FGM, GGOV, QDEU
Wed, Aug. 24, 2:12 AM
Tue, Jul. 26, 3:04 AM
- Just two months before the yuan is to be included in the IMF's Special Drawing Rights basket for the first time, the fund's board has adopted a new methodology for calculating the amounts of its global reserve currencies.
- New weightings of the dollar, euro, yen and pound will be set on Sept. 30 and fixed for five years, pushing the yuan a step closer to being freely usable internationally.
- ETFs: FXE, UUP, EUO, FXY, YCS, UDN, CYB, ERO, CNY, JYN, USDU, DRR, ULE, EUFX, FXCH, YCL, URR
Thu, Jul. 21, 9:28 AM
- Noting the "encouraging resilience" with which markets have handled the Brexit news, Mario Draghi says the ECB will be in better position to assess the fallout in coming months.
- Live blog
- While expecting the eurozone economy to continue to move forward at a moderate pace, risks remain to the downside, in part thanks to the Brexit.
- Asked about the unrelenting bear market in the stock prices of the EU's banks, Draghi says it's "of some significance" to policy makers because it raises the lenders' cost of capital, meaning lending becomes less profitable, meaning less lending. As for bank solvency, he's not too concerned, saying they're in much better shape than they were headed into the financial crisis.
- The euro (NYSEARCA:FXE) has bounced around a bit, but is currently back to flat on the session at $1.1017. The Stoxx 50 (NYSEARCA:FEZ) initially dipped hard as Draghi began his press conference, but has returned to a loss of just 0.3%.
- ETFs: FXE, VGK, EUO, HEDJ, FEZ, ERO, IEV, EPV, EZU, DRR, FEU, EURL, DBEU, ULE, EEA, EUFX, FEP, HEZU, UPV, IEUR, URR, FEEU, ADRU, FIEU, DBEZ, FEUZ, SBEU, HFEZ, HFXE, RFEU, PTEU, GSEU, DEZU, HGEU, FIEE
Thu, Jul. 21, 8:26 AM
- As expected, the ECB left rates unchanged today - the main refinancing rate at 0%, the marginal lending facility at 0.25%, and the deposit rate at -0.40%. QE will continue to run at €80B monthly until at least March 2017.
- The Stoxx 50 (NYSEARCA:FEZ) is lower by 0.35%, and the euro (NYSEARCA:FXE) flat at $1.1022.
- The main event awaits - Mario Draghi's press conference begins in five minutes.