CurrencyShares Euro Trust ETF (FXE) - NYSEARCA
  • May 9, 2012, 1:20 PM
    The teflon euro is finally taking the hit so many have been expecting, sinking to levels not seen since the start of the year. A weak currency may be what countries like Spain and Italy need as they suffer through austerity, writes Richard Barley, who wonders if too much damage has already been done. FXE -0.5%.
    | May 9, 2012, 1:20 PM
  • May 9, 2012, 9:32 AM

    EMU troubles may soon put the SNB and its 1.20 euro/franc floor to the test, the cross sinking as low as 1.2003 several times today. The floor has thus far been maintained with very little intervention by the central bank. A true rush of money into francs, however, would force the SNB to make good on its promise of printing "unlimited" amounts of currency.

    | May 9, 2012, 9:32 AM
  • May 9, 2012, 9:11 AM
    The Spanish PM announced today his country's banking system has collapsed and it's barely caused a whisper, writes Adam Button. Being locked out of debt markets isn't "theoretical," PM Rajoy told the Senate, ("it's) happening to the immense majority of regions, our whole financial sector and most big companies." Madrid -3.7%, STD -6.8%, BBVA -7.1%.
    | May 9, 2012, 9:11 AM | 5 Comments
  • May 8, 2012, 4:51 PM

    The IMF labels appropriate Switzerland's setting of a 1.20 floor on the euro/franc exchange rate, and says it has helped shore up the economy. The fund notes the floor has not really been challenged yet - should that happen and the SNB be forced to respond by printing francs to sop up euros, the resulting monetary expansion could lead to inflation and/or asset bubbles.

    | May 8, 2012, 4:51 PM
  • May 4, 2012, 11:53 AM
    More evidence the euro is about to explode out of its tight trading range (which way TBD): The implied volatility of the euro/dollar exchange rate has collapsed, sharply diverging from its relationship with EU stocks. This sort of action may not last for too long. Today is seeing a bit of breakout - to the downside. FXE -0.5%. (see also)
    | May 4, 2012, 11:53 AM
  • May 4, 2012, 11:03 AM
    Perhaps what's really roiling markets today are weekend elections in France and Greece. Greece looks particularly ugly, with true economic collapse in Athens potentially paving the way for the neo-Nazi Golden Dawn party to take 5-6% of the vote (2009 election: 0.23%). The communists are polling at about the same. "Be very worried," says Credit Suisse.
    | May 4, 2012, 11:03 AM | 13 Comments
  • May 3, 2012, 11:07 AM

    The euro's tight trading range (vs. the dollar) has tightened even further, writes Robert Sinn, the sort of thing often proceeding a big breakout. With sentient towards the common currency firmly on the bearish side, might the big move many are expecting be to the upside?

    | May 3, 2012, 11:07 AM
  • May 3, 2012, 8:47 AM

    The euro is erasing the bulk of substantial early losses as Draghi talks about downside risks to the economy, but reiterates the ECB's primary role: Price stability. Euro now down just a couple of pips at $1.3154.

    | May 3, 2012, 8:47 AM
  • May 3, 2012, 8:31 AM

    ECB President Mario Draghi's press conference is set to begin. Watch live here, and follow Market Currents for key updates. Earlier, the ECB left its benchmark rate unchanged at 1%, but Draghi's comments may tip a reduction in the bank's growth/inflation forecasts, setting the stage for future easing.

    | May 3, 2012, 8:31 AM
  • May 2, 2012, 9:47 AM

    "I think we're a year away from the French fully nationalizing their banking system," Hugh Hendry tells the gathering at the Milken Institute. The trade in Europe, he says, is to be short financials and long exporters as he sees the euro headed towards parity with the dollar, "a profound economic advantage to what are already super-competitive businesses." (full panel video here)

    | May 2, 2012, 9:47 AM | 1 Comment
  • May 2, 2012, 7:30 AM

    The euro is making a big move against the dollar for about the first time in a month, -0.7% to $1.3146. The release of the Spanish PMI about 4 hours ago looks to have set off the decline. The euro's movement has been somewhat neutered by Switzerland's explicit floor/peg and de facto pegs in Asia. FXE -0.7% premarket.

    | May 2, 2012, 7:30 AM
  • May 2, 2012, 7:08 AM
    U.K. April Construction PMI falls to 55.8 vs. 56.7 previously and expectations of 54.0. "The upturn in business' expectations represents something of an antidote to the news that the construction sector double-dipped in Q1," says Markit's Tim Moore. Sterling rises to a new multi-year high vs. the euro.
    | May 2, 2012, 7:08 AM
  • May 1, 2012, 11:22 AM

    The ECB's liquidity blitz is feeding through to the money supply, writes Ambrose Evans-Pritchard, seeing a "glimmer of hope for the austerity wasteland" of the EU periphery. Don't get too excited though - M1 money supply isn't growing in the Club Med countries, it's just slowed its rate of decent. "Be thankful for small mercies."

    | May 1, 2012, 11:22 AM
  • Apr. 30, 2012, 11:10 AM

    The election of Hollande in France will herald the birth of the EU "growth bloc," writes Ambrose Evans-Prtichard, 200M strong, a majority in parliament, and ready to end the austerity demands of Germany. What will Berlin's pro-EU rhetoric mean when Germany no longer calls the shots, he wonders. Meantime, Sarkozy narrows the gap 6 days before the election.

    | Apr. 30, 2012, 11:10 AM | 2 Comments
  • Apr. 30, 2012, 5:35 AM

    Eurozone inflation falls to +2.6% in April from +2.7% in March but above forecasts of 2.5%. Following the data, the ECB may feel that it has little room to reduce interest rates to help spur economic growth, especially with oil prices high. The bank is due to meet on Thursday. (PR)

    | Apr. 30, 2012, 5:35 AM
  • Apr. 30, 2012, 5:28 AM

    The European Commission is reportedly preparing a "kind of Marshall Plan" of €200B to stimulate growth in Europe via public and private investment in infrastructure, renewable energies and high technology, according to the Spanish daily El Pais.

    | Apr. 30, 2012, 5:28 AM | 7 Comments
FXE Description
CurrencyShares Euro Trust is designed to track the price of the euro net of Trust expenses, which are expected to be paid from interest earned on the deposited euros.
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