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CurrencyShares British Pound Sterling Trust ETF (FXB)

- NYSEARCA
  • Wed, Jan. 21, 10:33 AM
    • Two BOE policy makers had been voting for rate hikes since August, but backed down from that stance at the last meeting (early January), according to the minutes.
    • It wasn't long ago investors were pricing in a U.K. rate hike in late 2014, but now markets have backed off all the way to Q2 of 2016. At issue now are the downside risks to inflation after the rate fell to just 0.5% in December vs. the bank target of 2%. Behind that drop, however, is oil, whose decline could actually boost the medium-term risks for higher inflation, says the BOE.
    • The pound (NYSEARCA:FXB) is lower by 0.2% at $1.5111, and the FTSE (NYSEARCA:EWU) is Europe's big gainer today, up 0.8%.
    • ETFs: EWU, EWUS, FKU, DXPS, DBUK, QGBR
    • Previously: Unexpected rate cut for Canada (Jan. 21)
    • Interesting times: Canada unexpectedly cuts rates, the BOE is postponing rate hikes, and the ECB is set to launch QE, but the Fed seems heck-bent for tightening policy by mid-year.
    | Comment!
  • Thu, Jan. 15, 10:32 AM
    • Europe initially knee-jerked lower on the SNB's shock decision to abandon the CHF 1.20 floor for euro/franc, but has since turned sharply higher as investors mull the salutary effects of a much cheaper euro, now down 1.4% vs. the greenback and 12.8% vs. the swissie. FXE -1.4%
    • The Stoxx 50 (NYSEARCA:FEZ+2.3%, Germany (NYSEARCA:EWG+2.2%, France (NYSEARCA:EWQ+2.5%, Italy (NYSEARCA:EWI) +2.8%, Spain (NYSEARCA:EWP+1.5%. The U.K. (NYSEARCA:EWU) - where the pound (NYSEARCA:FXB) is lower by 0.3% vs. the dollar and 11.8% vs. the franc - is ahead by 1.5%.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    • Previously: Swatch boss: "Tsunami" just hit Swiss exporters (Jan. 15)
    | 1 Comment
  • Thu, Jan. 8, 7:30 AM
    • The Bank of England maintains its benchmark rate at 0.5% and leaves the QE program dormant at £375B.
    • Cable (NYSEARCA:FXB) remains modestly lower on the session at $1.5059.
    | Comment!
  • Dec. 1, 2014, 6:15 AM
    • U.K. manufacturing PMI edged up to its highest level in four months, rising slightly to 53.5 in November from 53.3 in October and topping consensus of 53.0.
    • Domestic demand offset falling exports due to sluggish orders from the euro zone and emerging markets.
    • The pound gets a lift and is up 0.5% at $1.5712, while the FTSE 100 is -0.7%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK
    | Comment!
  • Nov. 5, 2014, 7:38 AM
    • The greenback is well-bid following the GOP victory overnight, with the dollar index higher by 0.6% (a fairly sizable move for this product).
    • UUP +0.65% premarket.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • The euro (NYSEARCA:FXE) is lower by 0.5% vs. the dollar; the pound (NYSEARCA:FXBby 0.6%; the yen (NYSEARCA:FXYby 1%; the Swiss franc (NYSEARCA:FXFby 0.5%, the aussie by 1.4%, and the loonie by 0.3%.
    • On the flip side, precious metals continue to tumble, with gold (-2.3%) and silver (-4.7%) at more than four-year lows.
    | 1 Comment
  • Oct. 29, 2014, 2:30 PM
    • While the statement - an end to QE, retention of the "considerable time" language, chatter about improving employment -wasn't much a surprise, the fact that the dissent came from the dove camp suggests perhaps there was a bit more hawkishness in the conference room than past meetings.
    • In any case, while stocks and longer-dated rates have a relatively subdued reaction, money is moving into the greenback (UUP +0.7%), with the euro (FXE -0.7%), yen (FXY -0.7%), pound (FXB -0.2%), Swiss franc (FXF -0.6%), loonie (FXC -0.4%), and aussie (FXA -0.6%) all considerably lower than they were 30 minutes ago.
    • ETFs: FXE, UUP, FXY, EUO, FXA, YCS, UDN, ERO, JYN, DRR, CROC, FORX, UUPT, UDNT, YCL, EUFX, ULE, USDU, URR, GDAY
    • Previously: QE ends, "considerable time" language stays for now
    | Comment!
  • Oct. 17, 2014, 4:23 AM
    • With bond markets guessing that interest rates could increase in the middle of next year, Andrew Haldane said that this is "not a bad bet."
    • In June, markets had been predicting a hike in November based on Haldane's thoughts.
    • The pound is -0.15% while the FTSE 100 is +1%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR
    • Previously
    | Comment!
  • Oct. 17, 2014, 3:54 AM
    • The Bank of England's chief economist, Andrew Haldane, has said that the BOE might need to maintain interest rates at a record low of 0.5% for longer than expected, due to the stuttering global economy, and financial and political risks.
    • Saying that the U.K. economy is "writhing in both agony and ecstasy," Haldane fears that Britain could slip into "secular stagnation," or a long period of poor growth.
    • The pound is -0.2% after dropping sharply and then recovering a bit, while the FTSE 100 is +0.8%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR
    | Comment!
  • Oct. 15, 2014, 11:59 AM
    • Markets and bond yields are falling everywhere, but it's the greenback (UUP -0.8%) which is taking the brunt of sales in foreign exchange. The euro (FXE +1%), yen (FXY +0.9%), swissie (FXF +0.9%) are all sharply higher, with cable (FXB +0.2%) advancing moderately. The loonie (FXC +0.1%) is up slightly vs. the dollar.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • Gold (GLD +0.9%) is up to $1,243 per ounce, about its highest price since Labor Day.
    | 4 Comments
  • Oct. 15, 2014, 5:06 AM
    • U.K. unemployment for the three months to August fell to a six-year low of 6% from 6.2% previously and came in below consensus of 6.1%.
    • The number of people without a job dropped to below 2M for the first time since 2008, declining 538,000 on year to 1.97M for the largest annual fall on record.
    • However, average earnings rose just 0.7%, as expected but below the inflation rate of 1.2%. (PR)
    • The pound is +0.1% at $1.5916 and the FTSE is -1.35%.
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR
    | Comment!
  • Oct. 14, 2014, 4:56 AM
    • U.K. CPI was flat on month in September, down from +0.4% in August and below forecasts of +0.2%.
    • On year, inflation dropped to a five-year low of 1.2% from 1.5% and missed consensus of +1.4%.
    • Core inflation +1.5% on year vs +1.9% previously and predictions of +1.8%.
    • "Falls in transport costs (notably sea fares and air fares) and prices for a range of recreational goods provided the largest contributions to the slowdown in the rate of inflation between August and September," the U.K.'s Office for National Statistics says. (PR)
    • Factory output prices (PPI) stayed at -0.1% on month, as expected. (PR)
    • "Inflation falls much faster than expected...kiss goodbye to a U.K. rate hike any time soon," tweets Reuters' James McGeever.
    • The pound adds to its losses and is -0.7% at $1.5974, while the FTSE 100 is -0.5%.
    • Earlier: U.K. retail sales tumble
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR
    | Comment!
  • Oct. 14, 2014, 3:33 AM
    • U.K. comparable retail sales surprisingly slumped 2.1% on year in September after rising 1.3% in August and badly missed forecasts for a rise of 1%.
    • Food sales continued to fall, while and clothing and footwear sales hit record lows.
    • The pound is -0.2% at $1.6051, while the FTSE 100 is -1.5%. (PR)
    • ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR
    | 2 Comments
  • Oct. 6, 2014, 3:49 PM
    | 2 Comments
  • Sep. 19, 2014, 3:02 AM
    • European equity futures (NYSEARCA:EWU) indicate positive opens following Scotland's "no" vote. Euro STOXX 50 futures is up 1%, while FTSE 100 futures indicates U.K. markets could open up 1.1%. Pound futures (NYSEARCA:FXB) are up about 0.5%.
    • With 31 of 32 constituencies now final, unionists had won 55% of the vote and separatists had 45%.
    • Shares of stocks exposed to Scotland like Royal Bank of Scotland (NYSE:RBS) and Lloyds (NYSE:LYG) indicate early gains of 2-3%.
    | Comment!
  • Sep. 18, 2014, 9:22 PM
    • Just two of thirty-two regions have reported, but those in favor of Scotland staying in the U.K. have a comfortable lead. The story of the evening so far is remarkably high turnout - most regions are in the 80-90% range; this compared to the 60% range for recent general elections.
    • It's still very early and results from the heavily populated areas of Edinburgh, Glasgow, and Aberdeen aren't due until midnight eastern daylight time.
    • The pound (NYSEARCA:FXB) is higher by 0.7% to $1.6510, and FTSE 100 (NYSEARCA:EWU) futures are up 0.45%.
    | 4 Comments
  • Sep. 17, 2014, 3:52 PM
    • Though most of the polls give the "No" (to breaking away from the U.K.) camp the lead, the pound (NYSEARCA:FXB) is behaving a bit nervously. It's now slightly lower on the session after being up nicely this morning following a larger-than-expected decline in unemployment.
    • Independence would be "an economic trapdoor down which we go, from which me might never escape," says former U.K. PM Gordon Brown in the sort of fear-mongering comment becoming fairly typical from politicians who support the status quo.
    • “Secession would be a catastrophe for Scotland,” says Spanish foreign minister Garcia-Margallo. “It would start a process of Balkanization that nobody in Europe wants.” Spain, of course, has its own secession issues in Catalonia.
    • The U.K. banks are showing little nervousness, with Barclays (BCS +0.8%), RBS (RBS +0.8%), and Lloyds (LYG +1.5%) all in the green, and HSBC (HSBC) just marginally lower.
    • ETFs: EWU, EWUS, FKU, DXPS, DBUK, QGBR
    | 15 Comments
FXB vs. ETF Alternatives
FXB Description
CurrencyShares British Pound Sterling Trust is designed to track the price of the British Pound Sterling net of Trust expenses, which are expected to be paid from interest earned on the deposited British Pound Sterlings.
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