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Wednesday, February 13, 8:04 AM
No currency wars here. The euro takes a mini-header as Bild reports the ECB is worried the euro's strength will hurt the recovery in the EU periphery. Counting down to the denial ... The euro currently buys $1.3494, down from $1.3519 a couple of minutes ago.
Comment![Global & FX]
Tuesday, February 12, 10:38 AM
Some recent comments about the euro are "inappropriate," says Mario Draghi, speaking before Spanish parliament. The ECB's mandate is not the exchange rate, he says. There is no such thing as a currency war and talk about such is "way, way overdone." FXE +0.3%.
3 Comments[Global & FX]
Monday, February 11, 11:11 AM
The euro erases small losses as the ECB's (and Bundesbank's) Jens Weidmann says it isn't seriously overvalued and devaluation policies can only end in failure. He's from the Bundesbank - what did traders expect him to say. FXE +0.4%.
1 Comment[Global & FX]
Thursday, February 7, 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.
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Thursday, February 7, 11:43 AM
Europe closes with solid losses, equity prices popping then dropping following Mario Draghi's talking down of the euro. Stoxx 50 -0.8%, led by Italy -1.5%. The Italy ETF (EWI) -3% today, -7% over the past 5 sessions. Germany (EWG) manages to close green, +0.2%. Euro ETF (FXE) -1%.
2 Comments[Global & FX, On the Move]
Thursday, February 7, 9:06 AM
Draghi press conference (live here): The euro turns tail as Draghi talks about risks to the downside and specifically mentions the currency's strength as one of those risks. Up earlier, the euro now -0.4% and buying $1.3462. FXE -0.5% premarket. European stocks are at session highs, the Stoxx 50 +0.6%.
4 Comments[Global & FX, On the Move]
Thursday, February 7, 8:00 AM
Europe and the euro remain modestly higher after the ECB leaves rates unchanged. A small group had hoped for a rate cut. Stoxx 50 (FEZ) +0.4%, the euro (FXE) +0.3%. Draghi's press conference beings in 30 minutes.
Comment![Global & FX]
Tuesday, February 5, 3:20 PM
France and Germany are at it again as French President Hollande's call for a managed exchange rate (lower euro) is quickly rebuked by German economy minister Rosler who says the eurozone's top priority must be "strengthening competitiveness, rather than weakening the currency." FXE +0.5%.
Comment![Global & FX]
Tuesday, February 5, 9:40 AM
European leaders have succeeded in stabilizing the banking system, says Goldman President Gary Cohn, but they've still got work to do. "No one's given me an explanation of how we're really going to create growth in (the periphery)." One issue is the euro - too cheap for the core, he says, and too expensive for the periphery.
1 Comment[Global & FX]
Tuesday, February 5, 9:13 AM
One reason for the euro's strength over the past month - there's a lot less the currency floating about. The ECB balance sheet has actually been shrinking since the summer, with an especially steep drop since Feb. 1 when banks were allowed to begin repaying LTRO loans. FXE +9% in last 6 months.
Comment![Global & FX]
Monday, February 4, 7:23 AM
The euro takes a breather from what has been a huge run higher as Spain and Italy get their names in the paper again. Described as "unstoppable" last week and with speculative longs shooting higher, the euro almost had to turn lower. Currently -0.8% to $1.3563. Stoxx 50 -1%.
Comment![Global & FX]
Friday, February 1, 9:16 AM
As weak as the yen has been vs. the dollar, it's been even weaker vs. the euro, which continues to grind out new highs against nearly all the planet's other paper currencies. The Germans have begun growling a bit, but with unexpectedly falling unemployment and rising manufacturing, the economy (nor the DAX) is showing no ill-effect.
Comment![Global & FX]
Wednesday, January 30, 11:32 AM
The ECB would like to stick with a "wait and see" approach on the economy, says Goldman, but continued strength in the "unstoppable" euro - now at the highest since autumn 2011 - could force to bank to cut rates. FXE +0.6%.
1 Comment[Global & FX]
Wednesday, January 30, 6:34 AM
The euro and European stocks take divergent courses ahead of the FOMC's decision later, while U.S. equities are mostly flat. The euro breaks above $1.35 for the first time in 13 months and is now +0.5% at $1.3556, with the recent spike helped by confidence that the eurozone crisis just may be over and the repayment by banks of cheap ECB loans. EU Stoxx 50 -0.2%, London flat, Paris -0.1%, Frankfurt -0.1%. Dow and S&P flat, Nasdaq +0.1%.
Comment![Global & FX, Top Stories, On the Move, U.S. Economy]
Monday, January 28, 7:06 AM
Punters piling into the long euro trade (witness a sharp rise in speculative longs at the CME) might be interested in a short note from Deutsche which says at $1.3456 Europe is "on the edge" of maintaining competitiveness, and "some member countries are already losing it." FXE +9.2% over the last 6 months.
Comment![Global & FX]
Friday, January 25, 3:49 PM
With the euro approaching its highest level vs. the greenback in more than a year, the net euro long position at the CME triples to $3.6B, according to the CFTC. Now currency trading at the Merc is no more than a thimble of water in the ocean of worldwide currency trading, but it's a sign of an overcrowded side of the boat nevertheless.
Comment![Global & FX]
dak269 Everyone should quickly move into FXE, UPRO and the like...I sold off my longs over the past 2-3 sessions
11/14/11
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dak269: so the Euro zone numbers must be better than expected....
11/14/11
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Ricardo Espinosa UUP overbought, FXE oversold, another face-ripping rally to year´s end, maybe not as huge and unexpected as the last one.
11/11/11
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nasalpancho: The dollar is losing ground to a currency that needs to be massively print or be blown out of existence -- the dollar will rally
11/11/11
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Ricardo Espinosa: No,in fact I´ll short oil at anything above $105, won´t touch gold, Euro in logic should collapse below $1 USD, but hey, it´s the markets
11/11/11
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Ricardo Espinosa FXE bottoming out on stochastic, bullish for Euro & markets, sold to open 125/130 CRM weekly puts @1.4.
11/3/11
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TonyNed: What stochastics are you looking at? The 5min is kind of close. None of the others are close.
11/3/11
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Ricardo Espinosa: The 14,3,3; agree it´s a little faster and can stay there for many sessions, I expect no longer than 5, expiration is gonna be fun!
11/3/11
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Ricardo Espinosa FXE @ session lows, dollar strengthening, watch por reversal today and tomorrow.
Michael Stuart: That's the plan, nothing's solved over there yet :).
10/31/11
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Brian L. Wilson: I agree. Short EUR/USD on my forex when the next key level is broken
10/31/11
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Wyatt Junker You would think higher oil prices would push up drillers & explorers while it forced the rest of the market down. I guess FXE is the issue.
10/25/11
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TruffelPig: I think everyone knows that the oil price right now has more to do with some hedge fund imploding. It will go down soon again.
10/25/11
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TruffelPig: Right now someone is bleeding really bad.
10/25/11
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Bill Maurer Euro at day's highs, FXE pushing all commodities sharply higher, look at GLD, SLV, UGA, USO. Euro will turn soon, and so will the markets.
10/6/11
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Bill Maurer: Too much work to get through 1158-1160. Topped out at 1161. Every time we start to get going, AAPL loses $1 in an instant and we fall back.
10/6/11
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Ricardo Espinosa: Yeah looks like 1160 is real strong resistance, happened again.
10/6/11
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