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CurrencyShares Euro Trust ETF (FXE)

- NYSEARCA
  • Tue, Apr. 7, 11:49 AM
    • The dollar (UUP, UDN) has slumped 3.8% vs. the euro (NYSEARCA:FXE) over the past few weeks - likely a combination of profit-taking by those short euros and ideas the Fed will wait longer-than-expected before hiking rates. Among those maybe ringing the register is Ray Dalio's Bridgewater Associates - up a whopping 14% in Q1, partly thanks to a sizable short bet on the euro.
    • "The market is now pricing in a very subdued pace of the tightening cycle - we disagree," says ING's Petr Krpata. "We just see the latest correction as a perfect opportunity to get into the trade again."
    • ING was one of the first houses to forecast euro/dollar parity this year, and is sticking by its year-end forecast of $0.95.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, UUPT, FORX, UDNT, EUFX, USDU, ULE, URR
    | Comment!
  • Fri, Apr. 3, 8:49 AM
    | 32 Comments
  • Wed, Apr. 1, 3:23 AM
    • If Greece ends up leaving the eurozone "it may not be a bad thing for the euro," Warren Buffett told CNBC, saying "it could be a good idea (in) several ways if everybody learns that the rules mean something."
    • The euro plunged to its largest quarterly fall on record in Q1, after Greece's latest package of proposed reforms was dismissed by lenders as more of a list of ideas rather than concrete plans.
    • The euro is +0.1% to $1.0746.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 3 Comments
  • Tue, Mar. 31, 3:32 AM
    • The euro fell for a second day, heading for a fourth straight quarter of declines, amid concerns Greece will fail to reach an agreement with its European partners to unlock a fresh lifeline of €7.2B.
    • The currency is now down 0.6% at $1.0768 after sliding 0.5% on Monday - weakening 11% this year against the dollar.
    • Greece's creditors said yesterday that the reform plan the country submitted over the weekend fell short of the needed requirements.
    • Previously: Euro hit by Greek uncertainty (Mar. 30 2015)
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 2 Comments
  • Mon, Mar. 30, 4:58 AM
    • After pulling away from a 12-year trough the last two weeks, the euro fell to as low as $1.0830 (-0.6%) this morning, hurt by the uncertainty of whether Greece would be able to strike a deal with its creditors before it runs out of cash.
    • After sending a list of reforms to bailout monitors late last week, both sides held lengthy talks over the weekend, with Greece pledging to finalize the list by Monday.
    • The proposals include measures to increase tax revenue and investment, and would raise some €3B, according to Greek officials.
    • Athens' ATG stock index -1.1%.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 7 Comments
  • Thu, Mar. 26, 12:08 PM
    • "The underlying factors driving this trend [lower] are still there," says Marvin Barth, European head of FX strategy at the bank, noting the EU's large output gap has gone nowhere, thus depressing return on capital, especially when compared to the U.S.
    • He also takes note of the ECB's commitment to hold rates near zero as facilitating the euro's (NYSEARCA:FXE) use as a funding currency, though the borrowing is not being used to invest in the European economy.
    • Barclays moves up its forecast for euro/dollar parity by three months to Q3 of this year.
    • The euro's lower by 0.4% today to $1.0920.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Mon, Mar. 23, 10:23 AM
    • The momentum of the economic recovery was too weak prior to QE, says Mario Draghi, testifying before a European parliament committee. Now, he says, the economy is benefitting from not just QE, but cheaper energy prices, and the declining euro.
    • Inflation, he says, is expected to be low and even negative in the months ahead, but should start to gradually increase towards year-end.
    • The euro (FXE +1.2%) is up to $1.0943, with the bounce over the past few sessions effectively wiping out March's steep losses.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Fri, Mar. 20, 6:20 AM
    • Following Athens' reform pledge and the Federal Reserve's cautious approach to raising interest rates, the euro climbed further as European stocks flat-lined and euro zone bond yields dipped.
    • The euro was 0.3% higher against the dollar at $1.0686, well below Wednesday's high above $1.10, but still leaving the currency on track for its best weekly performance in 18 months.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Wed, Mar. 18, 4:25 PM
    • A nice-sized rout in the overbought dollar following the unexpected Fed dovishness turns into something more after the bell, with the euro (NYSEARCA:FXE) flying all the way past $1.10 vs. just above $1.08 at 4 ET (prior to the Fed news, it was around $1.0650). In the last few minutes the common currency has returned to $1.0914.
    • The other major currencies also saw big post-4 ET moves, but not of the euro's magnitude.
    • The Dollar Bull ETF (NYSEARCA:UUP) is lower by 0.7% after hours, following a 2% dive in the day session.
    • Previously: Dollar off sharply as Fed slows rate hike estimates (March 18)
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, UUPT, FORX, UDNT, EUFX, USDU, ULE, URR
    | 6 Comments
  • Wed, Mar. 18, 2:15 PM
    | 1 Comment
  • Mon, Mar. 16, 2:56 PM
    • Checking out sharp oil decline episodes in 1985, 1997-98, and 2008-09, Natixis' Patrick Artus sees a number of statistically robust consequences. Among them are a rise in real wages, corporate profits, and real interest rates.
    • In those instances since the introduction of the euro, the oil fall has also resulted in a weaker euro (we can check that one off already).
    • The bottom line, says Artus, is an optimistic view on the economy, especially the eurozone.
    • ETFs: AGG, FXE, BND, BOND, EUO, ERO, SCHZ, DRR, EUFX, LAG, ULE, URR, SAGG, GBF, FBND, IUSB, VBND
    | 1 Comment
  • Mon, Mar. 16, 5:16 AM
    • The euro recouped its earlier losses after briefly touching a new 12-year low against the dollar in Asia trade, but further slides in the currency looked likely given the diverging monetary policies in the eurozone and U.S.
    • Ahead of the FOMC scheduled to end Wednesday, the euro was up 0.4% at $1.0536 after hitting $1.0457, its lowest since January 2003.
    • Nearly all now believe that Fed policy setters will remove the word "patient" from their statement, opening the door for a rate increase in June.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Fri, Mar. 13, 10:30 AM
    • Another strong gain today in the dollar (UUP +0.6%) has pushed the dollar index through 100 for the first time since April 2003.
    • The greenback is up across the board, but particularly strong vs. the euro (FXE -0.9%), pound (FXB -1.1%), loonie (FXC -0.6%), and aussie (FXA -0.8%).
    • Alongside the rallying dollar, oil has erased its February bounce, and at $45.83 is now threatening to take out the bear market lows hit in late January. USO -2.8%
    | 21 Comments
  • Fri, Mar. 13, 7:55 AM
    • Goldman now has the most bearish of the major bank euro (NYSEARCA:FXE) forecasts after slashing its year-end expectation for the currency to $0.95 from $1.08 at its January forecast. By the end of 2016, Goldman sees the euro at $0.85, and all the way to $0.80 by 2017's close.
    • The euro's all-time low of $0.8225 was touched in October 2000.
    • At the heart of the forecast are the divergent growth outlooks for the U.S. and EU, and the resultant divergent monetary policies of the Fed and ECB.
    • The euro's off 0.45% today to $1.0584, not far above a 12-year low of $1.0494 hit yesterday.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 2 Comments
  • Thu, Mar. 12, 9:46 AM
    • The central bank bought about €10B worth of bonds with an average maturity of nine years in the first three days of its asset purchase program, according to board member Benoit Coeure.
    • The ECB plan is for €60B per month in purchases through at least September 2016.
    • He calls the recent volatility (mostly down) in the euro of late transitory due to investors wrapping their heads around how the ECB QE program is working.
    • The euro (FXE +0.9%) is on the move to the upside today.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Thu, Mar. 12, 4:27 AM
    • The euro eased after falling to fresh 12-year lows against the dollar today, as the ECB's stimulus program continued to weigh, while investors looked ahead to U.S. economic reports later in the session.
    • Hitting its weakest since March 2003, the euro fell to $1.0495 before pulling back to trade at $1.0624, 0.7% higher for the day.
    • The U.S. will release data on retail sales and jobless claims this morning, which will be closely watched for further indications on the direction of monetary policy.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 3 Comments
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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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