FXS
CurrencyShares Swedish Krona Trust ETFNYSEARCA
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  • Wed, Jul. 6, 4:43 AM
    • Sweden's central bank held its main interest rate steady at -0.5% today, citing Brexit uncertainty as a reason to delay future rate hikes.
    • The Swedish economy continues to strengthen, but there is "considerable uncertainty" over developments abroad, the Riksbank said, adding that government bond purchases will continue during the second half of 2016.
    • ETFs: EWD, FXS
    | Wed, Jul. 6, 4:43 AM
  • Thu, Apr. 21, 4:17 AM
    • Sweden's central bank is buying more bonds to drive down longer yields as policy makers try to fight currency gains that threaten to undermine their efforts to rekindle inflation.
    • The Riksbank left its benchmark repo rate at -0.5%, but added 45B kronor ($5.6B) to its quantitative easing program, including inflation linked bonds, to be purchased during the second half of the year.
    • Sweden's currency is gaining against the dollar in the wake of the announcement.
    • ETFs: EWD, FXS
    | Thu, Apr. 21, 4:17 AM
  • Thu, Feb. 11, 4:44 AM
    • Sweden's central bank has lowered its key interest rate even further below zero, saying it's prepared to use its full toolbox of measures as it battles to revive inflation and keep the krona from appreciating.
    • "Uncertainty regarding global developments is still high, with low inflation and several central banks pursuing more expansionary monetary policy," the Riksbank said.
    • The repo rate was reduced from -0.35% to -0.50%, while government bond purchases will continue as planned for the first six months of 2016.
    • ETFs: EWD, FXS
    | Thu, Feb. 11, 4:44 AM | 11 Comments
  • Dec. 15, 2015, 5:06 AM
    • Sweden's central bank has kept its key lending rate unchanged at a record-low of -0.35% and refrained from boosting it bond purchasing program in a bet that a surge in growth will propel the economy out of three years of zero inflation.
    • "Developments in the Swedish economy have been somewhat stronger than expected, while uncertainty remains globally," the bank said. "There has been an upward trend in inflation since last year, but it is not yet on a firm footing."
    • The Riksbank's outlook for rates to first rise in early 2017 was also kept unchanged.
    • ETFs: EWD, FXS
    | Dec. 15, 2015, 5:06 AM | 1 Comment
  • Oct. 28, 2015, 6:29 AM
    • Sweden's Riksbank has expanded its bond-purchase plan for a fourth time since February as policy makers face continuing peer pressure to keep up with stimulus measures in the eurozone.
    • While holding its benchmark repo rate unchanged at -0.35%, the Riksbank said it would expand its bond-buying program by 65B Swedish crowns ($7.65B).
    • The move follows a speech from ECB President Mario Draghi last Thursday, which spoke of ramping up the eurozone's €1T quantitative easing program in December.
    • ETFs: EWD, FXS
    | Oct. 28, 2015, 6:29 AM
  • Jul. 2, 2015, 4:58 AM
    • Sweden's central bank unexpectedly lowered its main interest rate deeper into negative levels today and expanded its bond purchases to the end of the year, saying uncertainty abroad had increased and it was difficult to assess the consequences of the situation in Greece.
    • The repo rate was cut to -0.35% from -0.25%, while the country expanded its bond purchasing program by 45B kronor ($5.3B) to the end of year, adding to the 80B-90B kronor that was already announced.
    • ETFs: EWD, FXS
    | Jul. 2, 2015, 4:58 AM | 1 Comment
  • Feb. 12, 2015, 6:17 AM
    • Along with Ukraine's new peace agreement, European shares are heading higher as euro-area finance ministers put off decisions on Greece’s bailout terms until next week.
    • Greek officials were unable to reach a deal to stay in an EU bailout program yesterday, and will return to Brussels on Feb. 16 to try to end the deadlock.
    • Meanwhile, Sweden’s central bank cut its main interest rate into negative territory and announced a bond-buying program this morning, sending European shares even higher.
    • ETFs: GREK, EWD, FXS
    • FTSE 100 +0.4%; DAX +1.6%; CAC 40 +1%; Euro Stoxx 50 +1.4%.
    | Feb. 12, 2015, 6:17 AM | 5 Comments
  • Aug. 26, 2013, 4:21 AM
    • Forex reserves have been falling at Asian banks as they have attempted - not so successfully - to bolster their weakening currencies, which have been suffering partly from the Fed's talk of tapering. Six out of the 10 banks with the largest holdings have cut their reserves this year.
    • The Bank of Indonesia's holdings have plunged a record 18% in 2013, while the rupiah has dropped 12%. The Reserve Bank of India's holdings have fallen 4% as the rupee has dropped 12%.
    • The trends threaten currencies that central banks bought as they looked to diversify their reserves beyond the U.S. dollar in past years, including the euro, the Swedish krona, the Norwegian krone, the South Korean won, and the Australian and Canadian dollars.
    • ETFs: CEW, AYT, JEM, PGD, FXE, ERO, ULE, URR, EUO, DRR, EUFX, ICN, INR, FXA, GDAY, CROC, FXC, FXS,
    | Aug. 26, 2013, 4:21 AM
  • Feb. 7, 2013, 4:02 PM

    A look beneath the hood of Schwab's (SCHW) recently unveiled lineup of 105 commission-free ETFs shows an impressive breadth of asset class coverage, including currency, physical metals and equal-weight sector ETFs not previously available for commission-free trading. Notably absent: iShares single country funds, 10 of which are available among the 101 ETFs TD Ameritrade (AMTD) offers commission-free.

    | Feb. 7, 2013, 4:02 PM
  • Jan. 1, 2013, 1:00 PM
    Currency ETFs were largely flat in 2012, with the krona (FXS) and rupee (ICN) leading gainers, and the rand (SZR) and yen (FXY) the biggest losers.
    | Jan. 1, 2013, 1:00 PM
  • Sep. 6, 2012, 7:21 AM

    Sweden's Riksbank unexpectedly cuts rates 25 basis points to 1.25%, citing weakness in the eurozone as lowering its expectations for exports and economic growth. The bank also notes a quick appreciation in the krona and nobody seems to want a strong currency these days. The rate decision wasn't unanimous - one member wanted a 50 bp cut.

    | Sep. 6, 2012, 7:21 AM
  • Apr. 18, 2012, 10:32 AM
    First it was the Bank of Canada talking about a "modest withdrawal" of monetary stimulus. Then Sweden's Riksbank snapped a run of rate cuts, followed by BoE superdove Adam Posen voting against more stimulus. "Is the tide finally turning for global central bank policy," asks William Kemble-Diaz.
    | Apr. 18, 2012, 10:32 AM | 1 Comment
  • Dec. 20, 2011, 3:37 AM
    Sweden’s Riksbank cuts its repo rate 25 bps to 1.75%. Eurozone troubles are having a "dampening effect" on the Swedish economy, and a deterioration may force Sweden to further lower its benchmark rate. (statement)
    | Dec. 20, 2011, 3:37 AM
  • Dec. 9, 2011, 1:39 AM
    Of the 27 EU nations, 23 have agreed to tighten their fiscal coordination, though leaders remain deeply divided on the details of their crisis strategy. The U.K. will stand aside, while Hungary, Sweden and the Czech Republic have reserved their positions. All 17 eurozone nations are participating.
    | Dec. 9, 2011, 1:39 AM | 8 Comments
  • Nov. 29, 2011, 5:20 AM
    Sweden's GDP grew at a zippy 4.6% annualized rate in Q3, besting estimates for 3.4% growth. One of the main drivers was an increase in exports, but given the state of the rest of the world, that GDP figure is likely to soften significantly in coming quarters.
    | Nov. 29, 2011, 5:20 AM | 1 Comment
  • Nov. 28, 2011, 11:36 AM
    Kokusai Asset Management, Japan's largest mutual fund company, says it has unloaded all of its Italian, Spanish, and Belgian bond holdings, lowering the level of euro-denominated paper in its flagship fund to 15.9% from more than 30% two months ago. Hopefully not auguring the next trouble spots, the fund is redirecting assets to the debt of Canada, Australia, Sweden, and Norway.
    | Nov. 28, 2011, 11:36 AM | 1 Comment
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