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Thursday, June 6, 10:55 AM Europe turns decidedly lower, the Stoxx 50 now off 0.8% following Mario Draghi's press conference, with markets perhaps deciding to punish his somewhat smug performance: "OMT has probably been the most successful monetary measure for some time." - a curious statement considering it doesn't yet exist and Draghi admitted the legal paperwork isn't complete. Leading to the downside is Italy (EWI), tumbling 2.3%. The euro (FXE) continues to rise, +0.7% to $1.3182. 1 Comment [Global & FX, On the Move]
Thursday, June 6, 8:51 AM Draghi press conference: The bank cuts its 2013 GDP growth forecast to -0.6% from -0.5%, but hikes its 2014 estimate to 1.1% from 1%. The ECB is "technically ready" to use negative rates, but sees no reason to act right now. The euro (FXE) shoots higher, now +0.6% at $1.3166. Comment! [Global & FX, Breaking News]
Thursday, June 6, 7:56 AM The euro (FXE) remains well-bid following the ECB standing pat. Few had expected a move given the bank had cut rates 25 bps to 0.5% just one month ago. The common currency is up 0.2% at $1.3117, its highest level in a month. Mario Draghi's press conference begins at 8:30 ET. Comment! [Global & FX]
Friday, May 17, 8:37 AM First the move then the news? The euro takes a quick tumble, dropping about 50 pips to $1.2821. There's not much in the news other than the recycling of an old story Germany's Constitutional Court might reject the ECB's OMT plan, and chatter the central bank has been calling around to float the idea of negative deposit rates. FXE -0.5% premarket. Comment! [Global & FX]
Thursday, May 16, 11:34 AM The euro tumbles about 30 pips as European Industry Commissioner Antonio Tajani tabs the currency as too strong and calls on the ECB to manage its level to better-help exports. FXE now up just 0.1%. Comment! [Global & FX, On the Move]
Monday, May 13, 6:20 AM The ECB's Ignazio Visco revives the discussion of negative deposit rates after Ewald Nowotny sought to dismiss the notion as largely out of the realm of near-term possibilities earlier this month. Visco tells CNBC that the ECB is "technically prepared" to institute the policy and goes so far as to say that in his opinion, "the economy is now capable of taking it on board." In the wake of the ECB's most recent policy meeting, Mario Draghi said he has an "open mind" to the policy, a statement which sent the euro (FXE) tumbling. Comment!
Monday, May 6, 10:44 AM The euro (FXE -0.4%) tumbles as Mario Draghi - in prepared remarks in Rome - says the ECB is ready to act again in coming weeks. The comments are not a whole lot different than what he said post-rate cut at his press conference last Thursday. 1 Comment [Global & FX, On the Move]
Thursday, May 2, 9:16 AM It tells you all you need to know, says Danske's Owen Callan, that the ECB would consider negative deposit rates rather than buying government paper. Draghi saying he has an "open mind" on negative deposit rates looks to be what sent the euro tumbling about 100 pips on one 5-minute bar. FXE -0.6% premarket. 5 Comments [Global & FX, On the Move]
Thursday, May 2, 9:07 AM "There was a very strong prevailing consensus towards an interest rate cut," says Draghi, now taking questions at his press conference. The answer suggests the vote wasn't unanimous (Weidmann?). As Draghi points to higher stock prices as one measure of the ECB's success, markets turn tail, the Stoxx 50 (FEZ) now off 0.5%, and the euro (FXE) really tumbling, -0.8%. 1 Comment [Global & FX, On the Move]
Thursday, May 2, 7:46 AM The ECB cuts its benchmark rate 25 basis points to 0.5%, a move expected my most, but not all economist forecasts. The euro (FXE) is about flat on the session. Comment! [Global & FX, Breaking News, Top Stories]
Wednesday, May 1, 12:41 PM Buy the dips in the euro (FXE) ahead of tomorrow's ECB policy meeting, says Credit Suisse (what dips, the euro's at a 2-month high). A rate cut is expected and SOP is for currencies to decline after, but the cut could be construed as stimulative for growth and thus supportive of the euro. A rate is expected, but not a slam-dunk as yet. 1 Comment [Global & FX]
Monday, April 29, 3:15 PM More from BAML on currencies: Holding against the crowd a bit, the bank argues an ECB rate cut is not coming this week, but could come in June if the data remain weak. BAML also suggests the bank may try to maximize the impact of a rate cut by combining it with looser collateral requirements. The euro (FXE) has held its own of late despite increasing signals of easier monetary policy. Comment! [Global & FX]
Friday, April 26, 7:18 AM New data from the ECB strengthen the case for a rate cut as loans in the eurozone private sector fell 0.8% Y/Y in March. Maybe a bit of light - lending to nonfinancial firms rose for the first time since July, but the small increase followed huge declines in January and February. Separately, Pimco's Rich Clarida says the ECB will indeed cut rates next week. The euro (FXE) is flat, continuing its tight range over the past few days. 2 Comments [Global & FX]
Wednesday, April 24, 7:04 AM Momentum is building for the ECB to cut rates 25 basis points at its meeting next week, reports Reuters, citing senior sources at the central bank. The meeting is taking place away from the bank's Frankfurt home and the ECB rarely moves at away games, but recent data paint a bleak enough picture for action, says one official. The euro (FXE) is flat and buying $1.3019. 2 Comments [Global & FX]
Tuesday, April 23, 5:35 AM European equities climb following mixed eurozone PMI data, with German shares just about brushing off poor PMI readings for the country, although the euro falls vs the dollar. EU Stoxx 50 +0.8%, London +0.5%, Paris +1.2%, Frankfurt +0.1%, Milan +0.7%, Madrid +1%. Euro -0.7% at $1.2979. 1 Comment [Global & FX, Top Stories, On the Move]
Wednesday, April 17, 10:38 AM Smoking the euro (FXE -1%) but offering no help to European stocks (FEZ -3%) is the ECB's (and Germany's) hawkish Jens Weidmann suggesting the central bank could slash rates if punkish economic data keeps rolling in. He brushes aside the idea the region's debt crisis is anywhere near over. "The calm that we are currently seeing might be treacherous." 3 Comments [Global & FX, On the Move]

EUFX ProShares Short Euro ETF

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ProShares Short Euro ETF