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CurrencyShares Euro Trust ETF (FXE)

  • Mar. 13, 2012, 6:57 AM
    European shares, particularly Germany, move to new session highs following the big jump in economic sentiment. Stoxx 50 +1.1%, Germany +1.1%. Curiously for what has been a "risk" asset, the euro moves to session lows, -0.4% at $1.3110.
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  • Mar. 12, 2012, 11:07 AM
    While gasoline prices are percolating in the States, they haven't approached the $4.11 peak of July 2008 (granted, we haven't hit high summer demand yet). The same can't be said for Europe, where prices at the pump have taken out the record levels from that summer.
  • Mar. 9, 2012, 2:57 PM
    Markets show little reaction to what had been a pretty well-tipped event - the ISDA Determinations Committee deciding a credit event has occurred with respect to Greece. Shares remain modestly higher though continuing to leak oil from morning highs, the S&P 500 +0.4%. The euro remains sharply lower, -1.3% at $1.3106.
  • Mar. 9, 2012, 9:07 AM
    The dollar is moving sharply higher against most major currencies following the jobs report. It's the opposite of recent market action where, perversely, strong U.S. economic news saw the greenback drop as money moved into "risk" assets, of which the euro, the pound, and the aussie are now thought of. The euro -1.1%, pound -0.7%, aussie -0.4%, yen -1.1%. UUP +0.8% premarket.
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  • Mar. 9, 2012, 1:13 AM
    Stock futures and the euro slide to red as what may have been considered a decent result on the Greek bond swap 24 hours ago registers a bit of a disappointment following this evening's whispers. S&P 500 -0.2%, the euro -0.3% at $1.3236.
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  • Mar. 8, 2012, 9:42 AM
    Draghi press conference: Far from thinking about tightening collateral rules, Draghi says they "can be looser, much looser." The statement causes some laughter in the room as it suggests there is essentially no downward bound on what institutions can present to the central bank in exchange for freshly minted euros. European shares return to near the day's highs, and why not.
  • Mar. 8, 2012, 9:34 AM
    The euro sheds a chunk of the day's gains as Draghi's press conference - which can be best described as a victory lap by a man who feels he has won a big battle, if not the war - moves towards conclusion. European shares remain solidly higher, Stoxx 50 +1.4%. Euro +0.6% at $1.3233.
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  • Mar. 8, 2012, 9:28 AM
    Draghi press conference: Responding to a question regarding Juergen Stark's description of the bank's balance sheet as "shocking," Draghi says the former ECB member has his facts wrong. To review: Stark resigned from the ECB not necessarily because of its expansionary policy, but because of the low-grade collateral the bank began accepting as security for loans.
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  • Mar. 8, 2012, 9:22 AM
    Draghi press conference: Addressing concern there's been a break between the ECB and the Bundesbank, Draghi says the vote on going forward with the LTRO was unanimous. "I don't think the Bundesbank is isolated ... (it) has never been alone in its views."
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  • Mar. 8, 2012, 9:05 AM
    Draghi takes a detour to address ideas the ECB is the loosest of the major central banks. He claims the makeup of banks' assets distorts the figure and the way he sees it, the BoE and the Fed are far looser and have greater balance sheet risk than the ECB.
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  • Mar. 8, 2012, 8:54 AM
    Draghi press conference: "Money market funds are starting to return, and they were the first to fly away," says Draghi, calling the LTROs an "unquestionable success" that has removed tail risk. LTRO 3? The "ball in is the court of the governments and banks" to support the recovery.
  • Mar. 8, 2012, 8:42 AM
    Draghi press conference: The euro shorts get fried early as Draghi comes out talking about inflation. He says it is likely to stay over 2% for the rest of 2012, and constitutes a key downside risk for the EU economy. The euro jumps to the day's high, +0.9% at $1.3270.
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  • Mar. 8, 2012, 8:30 AM
    ECB President Mario Draghi's press conference begins momentarily. Earlier the bank left policy unchanged. It's been posited Draghi will use today's Q&A to hint the ECB has done enough for the moment and its raft of emergency programs is on hold for now. Watch live here.
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  • Mar. 8, 2012, 7:45 AM
    The ECB leaves policy unchanged, its benchmark rate remaining at 1%. President Draghi's press conference begins at 8:30 ET.
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  • Mar. 7, 2012, 3:36 PM
    The ECB is not expected to cut its benchmark rate from 1% at its policy meeting tomorrow. Further, President Draghi may signal the bank has done enough lifting, and no further special operations are in store. Near-term liquidity issues may have been addressed, but the still-weak EU economy may force Mr. Draghi into more action before long.
  • Mar. 7, 2012, 11:09 AM
    Bloomberg calculations show Greece with a 58% participation rate for its PSI so far. Key levels to breach: 66% in order for any sort of debt swap (and subsequent bailout) to go through, 75% is the government's goal, 95% the level at which CACs may not have to be activated.
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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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