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CurrencyShares Euro Trust ETF (FXE)

  • Mar. 23, 2012, 2:46 PM
    Apparently a move to placate the Germans, the ECB unexpectedly raises the standards on the collateral it will take from banks as security for loans. EU central banks will now be able to reject as collateral bonds issued by governments in the midst of aid programs or with very low credit ratings. Novel stuff.
  • Mar. 22, 2012, 5:21 AM
    Markit flash eurozone PMI comes in at 48.7 vs. 49.2 expected and 49.3 prior, suggesting the eurozone has slipped back into a technical recession. Following the weak numbers, EU's Barroso says the sovereign-debt crisis is far from over. Euro -0.45% to $1.315.
  • Mar. 21, 2012, 8:21 AM
    Spain is at greater risk of default than ever before, Citi's Chief Economist Willem Buiter tells Bloomberg Radio. His remarks may be having an effect on the euro, which is pulling back even more from big early gains, now flat at $1.3224. Spain also red now, -0.3%. (listen live here)
  • Mar. 16, 2012, 9:29 AM
    The growth outlook for the eurozone has deteriorated over the past 3 months, says Ernst & Young in its Spring quarterly forecast, now expecting 2012 GDP to contract 0.5%. Among the individual countries, Ireland's GDP is expected to fall 0.1% against a previous forecast of +0.5%. (full report)
  • Mar. 16, 2012, 9:15 AM
    "Now is a good time to invest in distressed and undervalued European assets, euro debts and euro bonds," writes former Singapore PM Lee Kuan Yew. The view is a change of heart for Mr. Lee, as recently as September opining about the euro's structural issues and the profligacy of Western governments.
  • Mar. 16, 2012, 8:42 AM
    Stock index futures move to session highs after a slower-than-expected CPI print eases this week's renewed fears of accelerating inflation. S&P 500 +0.3%. European shares are also at the day's highs, Stoxx 50 +0.5%. The most interesting move is the euro, spiking higher on the release, now +0.4% at $1.3124.
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  • Mar. 15, 2012, 10:53 AM
    The euro gets its tail in the air on comments from the ECB's Ewald Nowotny who says he sees no need for further central bank action and rate cuts are not a point of discussion right now. The ECB has done its job, he says, other players must do their part. FXE +0.4%.
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  • Mar. 14, 2012, 7:53 AM
    Euro area inflation remains at 2.7% Y/Y in February after a 0.5% monthly rise. One year ago, the rate stood at 2.4%.
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  • 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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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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