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CurrencyShares Euro Trust ETF (FXE)

- NYSEARCA
  • Thu, Feb. 5, 7:59 AM
    | 9 Comments
  • Thu, Feb. 5, 3:59 AM
    • European equities are heading south after the ECB put more pressure on Greece by revoking a waiver that allowed banks to use Greek government debt as collateral for loans.
    • "It is currently not possible to assume a successful conclusion" of Greece’s current bailout, the ECB said late Wednesday, just hours after its president, Mario Draghi, met with Greek finance minister Yanis Varoufakis.
    • The euro fell close to a fresh 11-year low immediately after the ECB’s announcement, and remained under pressure today despite clawing back some of those losses. One euro currently buys $1.1373.
    • FTSE 100 -0.5%; DAX -0.3%; CAC 40 -0.6%; Euro Stoxx 50 -0.8%.
    • ETFs: FXE, EUO, GREK, ERO, DRR, EUFX, ULE, URR
    | 9 Comments
  • Wed, Feb. 4, 4:01 PM
    • Unable to divine the fate of Greece's bailout program, the ECB earlier withdrew a waiver which had allowed the use of Greek government paper as collateral for borrowing despite its low credit rating.
    • Alongside a drop in U.S. stocks, the euro (NYSEARCA:FXE) has given up about 40 pips in minutes, now lower by 0.8% on the session at $1.1386.
    • European markets are closed, but the Stoxx 50 ETF (FEZ -2.1%) - trading in New York - takes a tumble. Others of note: Spain (EWP -2.7%), Italy (EWI -2.6%), France (EWQ -1.8%), Germany (EWG -1.6%), U.K. (EWU -0.9%).
    • Broad European ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, ESTX, HEZU, SBEU, DBEZ, FEUZ
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 7 Comments
  • Mon, Jan. 26, 11:39 AM
    • The Athens Stock Exchange General Index is down 3.2% and the FTSE/Athens Stock Exchange Large Cap Index off 5.6%, after the hard-left Syriza party comes to power in Greece.
    • Trading here, the Greece ETF (GREK -4.6%) and the National Bank of Greece (NBG -8.3%).
    • The rest of Europe, however, continues to enjoy the ECB's QE program, and the Stoxx 50 (NYSEARCA:FEZ) is higher by 0.9%, led by Italy (NYSEARCA:EWI) and Spain (NYSEARCA:EWP) each up 1.15%.
    • The euro (NYSEARCA:FXE) sunk below $1.11 in knee-jerk trade last night, but has reversed to $1.1278, up 0.7% on the session.
    • Meanwhile, European officials - led by Germany's Angela Merkel - move quickly to shoot down any idea of relaxed terms on Greece's bailout. On their mind, no doubt, is the striking success of Syriza yesterday possibly energizing other anti-austerity, left-wing movements elsewhere on the continent. The eurocrats don't want to give the idea that eased bailout conditions await new governments.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, EURL, URR, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    | 11 Comments
  • Sun, Jan. 25, 8:43 PM
    • S&P 500 (NYSEARCA:SPY) futures are down 0.65%, DJIA (NYSEARCA:DIAby 0.7%, and Nasdaq 100 (NASDAQ:QQQby 0.6% as the left-wing, anti-austerity Syriza party takes power in Greece. Looking like it's going to wind up with about half the seats in parliament, Syriza has just cut a deal with the small, right-wing Independent Greeks party to form a coalition government.
    • The two share little in common except for opposition of the austerity measures imposed on Greece by the Troika.
    • German Dax (NYSEARCA:EWG) futures are lower by 0.9%, France (NYSEARCA:EWQby 0.8%, and the U.K. (NYSEARCA:EWUby 0.6%.
    • The euro (NYSEARCA:FXE) sunk to as low as $1.1099 in early trade this evening, but is currently off just 0.3% to $1.1171.
    • European and euro ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, EURL, URR, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    • Greek ETF: GREK
    • Previously: Anti-austerity Syriza set to sweep Greek elections (Jan. 25)
    | 44 Comments
  • Fri, Jan. 23, 7:38 AM
    • So much for efficient markets. The whole world knew for some time of the ECB's plan to launch QE yesterday, and thus had plenty of time to get rid of its euros (as the Swiss did a week ago). Nevertheless, the decline in the common currency has picked up steam since the announcement on Thursday, now off more than 400 pips in 24 hours.
    • At last check it's lower by 1.8% on today's session to $1.1170.
    • FXE -1.8% premarket
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    • Not complaining are European multinationals, and the Stoxx 50 (NYSEARCA:FEZ) is rallying hard for a 2nd day, now up 2.5% on the session.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    | Comment!
  • Fri, Jan. 23, 3:08 AM
    • "The Greek election provides another reason to sell euro in case the ECB decision was not enough," said Sean Callow, a currency strategist at Westpac Banking.
    • The euro is headed toward a sixth weekly decline against the dollar, now trading down 0.1% at $1.1347, before Greek voters go to the polls on Sunday.
    • With the left-wing Syriza party ahead in the latest surveys, power may shift from Prime Minister Antonis Samaras to his anti-austerity opponent Alexis Tsipras.
    • ETFs: FXE, EUO, GREK, ERO, DRR, EUFX, ULE, URR
    | 5 Comments
  • Thu, Jan. 22, 1:38 PM
    | 3 Comments
  • Thu, Jan. 22, 8:47 AM
    | 14 Comments
  • Wed, Jan. 21, 9:55 AM
    • A proposal from the ECB's executive board calls for bond purchases of about €50B per month for at least one year, reports the WSJ.
    • The move is slightly more aggressive than forecasts for €500B total, says the WSJ. However, Deutsche Bank co-CEO Anshu Jain earlier said €750B has already been priced in, according to Reuters' Jamie McGeever, and it would take something on the order of €1T to be considered bullish.
    • Europe (NYSEARCA:FEZ) remains mixed to modestly lower, and the euro (NYSEARCA:FXE) modestly higher on today's session.
    | 15 Comments
  • Fri, Jan. 16, 11:15 AM
    • There's a lot of talk about the carnage resulting from the SNB's move yesterday to drop the euro peg, but - outside of Switzerland - Europe is rallying for a 2nd consecutive session.
    • First, the Swiss move has led to a sharply weaker euro, not just against the franc, but vs. the dollar, pound, and yen. Second, the SNB likely dropped the peg after realizing - whether by friendly phone call from Frankfurt or otherwise - that the ECB is set to launch a massive QE program next week.
    • The Stoxx 50 (NYSEARCA:FEZ) is up another 1.6% today, with Germany's (NYSEARCA:EWG) DAX up 1.5% to an all-time high, France (NYSEARCA:EWQ+0.9%, Italy (NYSEARCA:EWI+1.8%, Spain (NYSEARCA:EWP+0.5%, and the U.K. (NYSEARCA:EWU+1.1%.
    • Parity here we come? The euro (NYSEARCA:FXE) is down another 1% vs. the dollar to just $1.1509.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, EURL, URR, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    • Previously: Europe liking SNB's cutting the euro loose (Jan. 15)
    | 5 Comments
  • Thu, Jan. 15, 10:32 AM
    • Europe initially knee-jerked lower on the SNB's shock decision to abandon the CHF 1.20 floor for euro/franc, but has since turned sharply higher as investors mull the salutary effects of a much cheaper euro, now down 1.4% vs. the greenback and 12.8% vs. the swissie. FXE -1.4%
    • The Stoxx 50 (NYSEARCA:FEZ+2.3%, Germany (NYSEARCA:EWG+2.2%, France (NYSEARCA:EWQ+2.5%, Italy (NYSEARCA:EWI) +2.8%, Spain (NYSEARCA:EWP+1.5%. The U.K. (NYSEARCA:EWU) - where the pound (NYSEARCA:FXB) is lower by 0.3% vs. the dollar and 11.8% vs. the franc - is ahead by 1.5%.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, IEUR, FIEU, HEZU, ESTX, FEUZ, DBEZ
    • Previously: Swatch boss: "Tsunami" just hit Swiss exporters (Jan. 15)
    | 1 Comment
  • Thu, Jan. 15, 6:18 AM
    • The Swiss National Bank unexpectedly scrapped its cap on the franc today to fight recession and deflation threats after investors fleeing the euro zone crisis pushed the currency to record highs.
    • Minutes after the announcement the franc had soared by almost 30% in value against the euro, sending the safe-haven currency crashing through the 1.20 per euro limit it introduced on Sept. 6, 2011.
    • The euro is now down 13.9% against the franc at $1.0345.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 2 Comments
  • Tue, Jan. 13, 3:29 PM
    • Pimco joins the increasingly sizable crowd expecting the euro (NYSEARCA:FXE) to reach parity with the greenback. Speaking on Bloomberg, Richard Clarida notes the euro - even in the EMU's darkest days in 2011 and 2012 - never fell below $1.1837, but we're through there now. "My own view is the next technical is parity," he says (without giving timing).
    • At heart of the fundamental reasons for the forecast is Clarida's expectation the ECB will introduce a sizable QE program this month.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Fri, Jan. 9, 3:09 PM
    • Revising its forecast for a number of currency pairs to reflect what it believes will be a prolonged run  higher for the dollar, Goldman sees the euro (NYSEARCA:FXE) reaching parity with the greenback by Jan. 2017, and falling to as low as $0.90 a year later.
    • One other notable move is for the aussie (NYSEARCA:FXA), and the team now expects it to weaken to $0.75 by year's end vs. the previous forecast of $0.79. Alongside that expectation, naturally, is the forecast that commodity prices will continue to weaken.
    • U.S. dollar ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 2 Comments
  • Thu, Jan. 8, 3:18 PM
    • The team at ING was more bearish than most on the euro (NYSEARCA:FXE) last year, helping it to the top of Bloomberg's ranking of forex analysts as the common currency closed the year buying $1.20 vs. about $1.37 at 2014's start.
    • The bank's uber-bearish view is unchanged in the new year, and the combination of ECB easing and Fed rate hikes in 2015 has ING seeing the euro dropping all the way to $1, far below the median estimate in a Bloomberg survey.
    • ING's currency strategy chief Chris Turner believes the ECB will announce QE at its Jan. 22 meeting, and then outlining details on March 5. As for the Fed, it should start raising rates by June - earlier than what the market is expecting.
    • The euro is lower by 0.45% on the session to $1.1787.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 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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