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CurrencyShares Euro Trust ETF (FXE)

- NYSEARCA
  • Nov. 13, 2014, 7:53 AM
    • Already at multi-year lows, the euro is snoozing through the ECB's revised economic outlook for the EU, with both inflation and real GDP growth expectations notched lower. Though the survey suggests outright deflation as having a low probability, the chance of inflation remaining below 1% in 2015 is greater than 50%.
    • "The survey adds to the pressure on the ECB for additional monetary easing, possibly in the form of full-blown QE," says BNP Paribas economist Luigi Speranza. "We continue to expect such a move to be announced as early as December."
    • The euro +0.2% and buying $1.2460.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    • European shares are mixed, with the Stoxx 50 (NYSEARCA:FEZ) currently ahead by 0.25%.
    • ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, EURL, FEEU, DBEU, EURZ, IEUR, FIEU, HEZU, FEUZ, ESTX
    | 1 Comment
  • Nov. 6, 2014, 8:43 AM
    • ECB officials are unanimous on providing more stimulus if needed, says Mario Draghi early in his post-policy meeting press conference, attempting to put to bed rumors of major disagreements among his crew.
    • The comment is enough to send the euro (NYSEARCA:FXE) tumbling more than 100 pips in the space of a couple minutes to more than a two-year low at $1.2431.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    • Previously: Policy on hold at ECB
    • Previously: Knives out for Draghi
    | 2 Comments
  • Nov. 5, 2014, 7:38 AM
    • The greenback is well-bid following the GOP victory overnight, with the dollar index higher by 0.6% (a fairly sizable move for this product).
    • UUP +0.65% premarket.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • The euro (NYSEARCA:FXE) is lower by 0.5% vs. the dollar; the pound (NYSEARCA:FXBby 0.6%; the yen (NYSEARCA:FXYby 1%; the Swiss franc (NYSEARCA:FXFby 0.5%, the aussie by 1.4%, and the loonie by 0.3%.
    • On the flip side, precious metals continue to tumble, with gold (-2.3%) and silver (-4.7%) at more than four-year lows.
    | 1 Comment
  • Nov. 3, 2014, 4:11 AM
    • Eurozone manufacturing PMI edged up to 50.6 (flash 50.7) in October from 50.3 in September as growth in Germany, Spain, the Netherlands and Ireland offset contraction in France, Italy and elsewhere.
    • The factory sector is struggling "to recover the traction lost following its mid-year slowdown," says Markit. "Manufacturing is therefore unlikely to provide any meaningful boost to the currency union’s anaemic GDP growth."
    • Markit is particularly concerned by a second successive fall in new orders, "a key bellwether of future output growth."
    • The euro is -0.2% at $1.2498. (PR)
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EU, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, ADRU, URR, EURL, FEEU, EURZ, DBEU, IEUR, FIEU, ESTX, FEUZ, HEZU
    | Comment!
  • Oct. 29, 2014, 2:30 PM
    • While the statement - an end to QE, retention of the "considerable time" language, chatter about improving employment -wasn't much a surprise, the fact that the dissent came from the dove camp suggests perhaps there was a bit more hawkishness in the conference room than past meetings.
    • In any case, while stocks and longer-dated rates have a relatively subdued reaction, money is moving into the greenback (UUP +0.7%), with the euro (FXE -0.7%), yen (FXY -0.7%), pound (FXB -0.2%), Swiss franc (FXF -0.6%), loonie (FXC -0.4%), and aussie (FXA -0.6%) all considerably lower than they were 30 minutes ago.
    • ETFs: FXE, UUP, FXY, EUO, FXA, YCS, UDN, ERO, JYN, DRR, CROC, FORX, UUPT, UDNT, YCL, EUFX, ULE, USDU, URR, GDAY
    • Previously: QE ends, "considerable time" language stays for now
    | Comment!
  • Oct. 27, 2014, 5:12 AM
    • The German Ifo institute's business-climate index has dropped for the sixth month, slipping to 103.2 in October from 104.7 in September and missing consensus of 104.3.
    • The current-situation reading declined to 108.4 from 110.5 and undershot forecasts of 110, while the expectations print fell to 98.3 from 99.3 and vs estimates of 98.9.
    • The euro shows little reaction and is +0.2% at $1.2697, while the DAX is -0.1%.
    • CESifo Web site
    • ETFs: FXE, EUO, EWG, ERO, EU, DRR, GUR, ESR, EUFX, EWGS, ULE, DBGR, BUNL, URR, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG, DAX
    | Comment!
  • Oct. 22, 2014, 3:40 AM
    • The euro flirted with one-week lows today following reports that the ECB is considering buying corporate bonds on the secondary market, expanding upon its private-sector asset-buying program which it began on Monday.
    • The euro briefly fell to $1.2706 its lowest level since Thursday and last stood at $1.2715.
    • U.S. CPI data due at 8:30 p.m. ET is expected to reveal a flat annual core CPI inflation at 1.7% in September, but a softer reading could undermine the dollar by adding to speculation that the Fed could wait longer before raising rates.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, FORX, UUPT, UDNT, EUFX, ULE, USDU, URR
    | Comment!
  • Oct. 21, 2014, 3:54 PM
    • Speaking at the Robin Hood Investors Conference, David Tepper says he's short the euro (FXE -0.6%).
    • The hedge funder has been expecting the ECB to go full QE at some point, and is no doubt pleased at this morning's floating of the idea of the central bank adding secondary market purchases of corporate bonds to its just-in-place program of buying ABS.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 2 Comments
  • Oct. 21, 2014, 8:01 AM
    • Pushing Europe to a sizable rally and sending the euro lower, Reuters says the ECB could decide as soon as this year to begin buying corporate bonds on the secondary market. The move would be an expansion of the ABS buying program launched this week.
    • "The pressure in this direction is high," says Reuters' source.
    • The Stoxx 50 (NYSEARCA:FEZ) is up 1.1% and the euro (NYSEARCA:FXE) lower by about 100 pips since the news, now down 0.3% at $1.2765.
    • Board Europe equity ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, DBEU, EURZ, IEUR, FIEU, HEZU, ESTX
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 15 Comments
  • Oct. 17, 2014, 5:38 AM
    • The ECB will start buying asset-backed securities and covered bonds "within the next few days" as part of its new program, Executive Board member Benoit Coeure has said.
    • "The objective (is) to steer the balance sheet toward higher levels and improve transmission to the real economy," Coeure said, speaking at a conference in Riga in Latvia.
    • He also called for reforms to help boost the eurozone economy. "Talking vaguely about structural reforms, but not doing them, is the worst of all worlds," Coeure said.
    • As you'd expect, Deutsche Bank President Jens Weidmann has reiterated his opposition to ABS purchases and said that they are problematic, particularly if it means a transfer of risk from banks to the ECB. Weidmann is in Riga as well.
    • Meanwhile, ECB governing-council member Ewald Nowotny has said that the bank may have to cut its 2015 eurozone GDP forecast from 1.6%.
    • The euro is +0.05% at $1.2816, while Italian 10-year yields are -4 bps at 2.51%, although they're still sharply higher for the week. German 10-year Bunds are +3 bps at 0.85% after touching fresh record lows this week, while France is +4 bps at 1.29% and Spain is -3 bps at 2.18%.
    • ETFs: FXE, EUO, ERO, EU, DRR, EUFX, ULE, URR
    | 3 Comments
  • Oct. 15, 2014, 11:59 AM
    • Markets and bond yields are falling everywhere, but it's the greenback (UUP -0.8%) which is taking the brunt of sales in foreign exchange. The euro (FXE +1%), yen (FXY +0.9%), swissie (FXF +0.9%) are all sharply higher, with cable (FXB +0.2%) advancing moderately. The loonie (FXC +0.1%) is up slightly vs. the dollar.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • Gold (GLD +0.9%) is up to $1,243 per ounce, about its highest price since Labor Day.
    | 4 Comments
  • Oct. 14, 2014, 5:21 AM
    • The German ZEW survey of investor confidence has unexpectedly dropped into negative territory for the first time in almost two years, tumbling to -3.6 in October from 6.9 in September and missing expectations of 1.
    • The current situation print has slumped to 3.2 from 25.4, falling short of consensus of 18.
    • Sentiment for the eurozone plunged to 4.1 from 14.2 and missed forecasts of 7.1.
    • "Geopolitical tensions and the weak economic development in some parts of the Eurozone, which is falling short of previous expectations, are a source of persistent uncertainty," says ZEW President Professor Clemens Fuest. "These factors are tarnishing growth expectations in Germany. Disappointing figures concerning incoming orders, industrial production, and foreign trade have likely contributed to the growing pessimism among financial market experts." (PR)
    • The DAX is -0.5% and the euro is -0.8% at $1.2653.
    • European ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EU, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, ADRU, URR, FEEU, EURL, EURZ, DBEU, IEUR, FIEU, ESTX, HEZU
    • German ETFs: EWG, EWGS, DBGR, BUNL, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG
    | 2 Comments
  • Oct. 7, 2014, 8:39 AM
    • It's fashionable of late to be bearish on the euro (NYSEARCA:FXE), currently residing at about a two-year low, but the call from Germany's biggest bank - that the common currency will buy just $0.95 by 2017 - is the most aggressive yet.
    • Cited by Deutsche's George Saravelos are huge European trade surpluses - typically bullish for a currency, but Saravelos argues the imbalances will be driven by barely visible economic growth, and shrinking investment returns forcing massive capital outflows from the EU.
    • "We expect Europe's huge excess savings combined with aggressive ECB easing to lead to some of the largest capital outflows in the history of financial markets ... "At around $400B each year, Europe's current account surplus is bigger than China's in the 2000s. If sustained, it would be the largest surplus ever generated in the history of global financial markets. This matters."
    • "Europe will become the 21st century's largest capital exporter. The next few years will mark the beginning of very large European purchases of foreign assets."
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Oct. 6, 2014, 3:49 PM
    | 2 Comments
  • Oct. 4, 2014, 4:43 PM
    • The ECB's attempts to weaken the euro and interfere with the euro/dollar exchange rate are "shocking," former ECB chief economist tells Focus magazine.
    • "The ECB is not demonstrating leadership, but is bowing to the expectations of the financial markets and political pressure from France and Italy."
    • He also criticized the ECB's bond-buying program, saying it has "nothing to do with monetary policy," and is forcing the ECB to take unpredictable risks.
    • Stark says the ABS purchases could lead to substantial redistribution among member stats, a mandate never given to the ECB.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, FORX, UUPT, UDNT, EUFX, ULE, USDU, URR
    | 8 Comments
  • Oct. 4, 2014, 4:30 PM
    • Bill Gross, set to start working for Janus (NYSE:JNS) on Monday, tells Barron's there will be a “bear markets for all assets” if the Fed raises its short-term rate to 4% in the next few years.
    • The Fed should target a rate of 2%, not 3.75-4%, to keep the economy in equilibrium, he says. Its current model fails to reflect structural changes in the economy.
    • Gross expects his fund to hold a "decent percentage" of short-term high-yield paper (10-25%), yielding 3-4%. "Both Janus and I like one-to-three-year high-yield paper issued by companies such as Ally Financial (NYSE:ALLY) and HCA Holdings (NYSE:HCA)."
    • Gross also likes Mexico (ETFs: EWW, UMX, SMK, DBMX, QMEX), and says he may take "mild short positions" in the euro (FXY, YCS, JYN, YCL)  and yen (FXE, EUO, ERO, DRR, EUFX, ULE, URR).
    • Janus may develop an ETF to track Gross's fund (MUTF:JUCTX).
    | 12 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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