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CurrencyShares Euro Trust ETF (FXE)

  • Feb. 28, 2012, 10:12 AM
    Ireland will hold a referendum on the new EU treaty, says PM Kenny, as reported by Dow Jones.  The euro - perhaps displeased with an exercise in democracy - takes a bit of a nosedive, now flat at $1.3399. When these sorts of things are allowed a popular vote in the EU, they have a habit of failing.
  • Feb. 28, 2012, 8:42 AM
    Bravo to the ECB for drawing a line on what collateral it won't accept (defaulted bonds), but don't think central bank funding of Greek paper is finished. National central banks - through the ELA program - are allowed to accept collateral the ECB won't, meaning Greek banks (and French too) can continue to fund their defaulted sovereign holdings.
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  • Feb. 27, 2012, 11:44 AM
    Germany's Bundestag approves the 2nd Greek bailout by a vote of 496 to 90, with 5 abstentions.
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  • Feb. 27, 2012, 9:30 AM
    More from Merkel: She reiterates that she sees no need to boost the EU firewall (the combined EFSF and ESM funds). The IMF has said an increased rescue fund is a prerequisite of it contributing to the Greek bailout, but Merkel - for obvious domestic political concerns - is at least publicly putting up a fight against such. EU stocks are at session lows, Stoxx 50 -1.4%.
  • Feb. 24, 2012, 10:23 AM
    The BoC's policy of flexible inflation targets provides "a robust framework for all seasons," says bank Governor Mark Carney. "Inflation targeting is disciplined, but flexible. It allows central banks to deliver what is expected while dealing with the unexpected."
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  • Feb. 24, 2012, 7:04 AM
    It's 2011 all over again as the euro continues one of the more improbable rallies of 2012, hitting another new high of $1.3413. The rally in 2011, however, came amidst a stronger EU economy and an ECB that was set to tighten policy. Today's ECB, on the other hand, is pumping out euros, with maybe even easier policy on tap.
  • Feb. 24, 2012, 6:59 AM
    Next week's LTRO part 2 should be the ECB's last, says Governing Council Member Ewald Nowotny, perhaps putting a name behind an earlier leak that "powerful members" were growing worried of banks' reliance on the cheap and easy to get funding.
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  • Feb. 23, 2012, 3:49 PM
    The euro's strong move higher vs. the greenback in the past month despite a weakening European economy and an ECB maybe outdoing the Fed with monetary ease? One reason might be the volume of weight underneath the market - of the major currency pairs, none has a higher net short position than EURUSD. FXE +0.9%.
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  • Feb. 23, 2012, 11:57 AM
    "Rudi Dornbusch used to say that Europeans are so rich they can afford to pay for everybody not working. That's gone," says ECB chief Draghi, stressing the need for continued austerity. Another interview tidbit: The stock market is the first statistic he looks at in the morning, as he prefers to wait until later to check in on the euro.
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  • Feb. 22, 2012, 10:59 AM
    A set of interesting charts shows the current account balances of EU states not being affected by changes in the euro's value ... with the exception of Germany, whose current account seems to dance to the tune sung by the common currency.
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  • Feb. 22, 2012, 6:47 AM
    The February Flash Composite PMI for the eurozone drops to 49.7 (50.4 previous) against expectations for a rise to 50.8. Manufacturing PMI 49.0 (48.8 previous). Services PMI 49.4 (50.4 previous). "Sharp divergences in performance also continued ... with modest growth in Germany contrasting with a steep decline in the periphery."
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  • Feb. 21, 2012, 9:30 AM
    The ECB wants next week's LTRO #2 to be its last, reports Reuters citing "powerful members" of the bank's governing council who worry lenders are becoming too reliant on central bank funding. The hawkish idea gives the euro a shot in the arm, rising a quick 30 pips and buying $1.3242.
  • Feb. 20, 2012, 10:15 PM
    The deal's in for Greece on a second bailout, and the euro's soared in response, buying $1.329. Financing will total €130B and involve a 70% loss for private debt holders, significantly higher than expected.
  • Feb. 20, 2012, 7:11 PM
    A "strictly confidential" sustainability analysis prepared for eurozone officials paints a bleak picture of where Greece is headed, a "tailored downside scenario" suggesting the country will come nowhere near the 2020 120% debt/GDP target set by the IMF. Further, any gains from the PSI will be lost as a now-scared investor class will shun future Greek debt.
  • Feb. 19, 2012, 5:27 AM
    Sony (SNE) is due to launch its Vita handheld console in the U.S. on Wednesday, with the firm hoping there's still a decent market for such devices despite the growth of casual gaming on phones. "If there are more people in gaming, why wouldn’t there be more people interested in a dedicated gaming device?" asks Sony's Jack Treeton.
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  • Feb. 19, 2012, 5:11 AM
    While Germany is reportedly looking at how Greece can leave the euro, the country itself is doing its best to convince everyone that it can be saved, with the cabinet yesterday approving the latest austerity measures demanded by the Troika. All eyes are now on tomorrow's meeting of eurozone finmins.
    | 1 Comment
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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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