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FXS vs. ETF Alternatives
CurrencyShares Swedish Krona Trust is designed to track the price of the Swedish Krona net of Trust expenses, which are expected to be paid from interest earned on the deposited Swedish Kronor.
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Monday, Aug 262013, 4:21 AM
Monday, Aug 262013, 4:21 AM| Comment!
- Forex reserves have been falling at Asian banks as they have attempted - not so successfully - to bolster their weakening currencies, which have been suffering partly from the Fed's talk of tapering. Six out of the 10 banks with the largest holdings have cut their reserves this year.
- The Bank of Indonesia's holdings have plunged a record 18% in 2013, while the rupiah has dropped 12%. The Reserve Bank of India's holdings have fallen 4% as the rupee has dropped 12%.
- The trends threaten currencies that central banks bought as they looked to diversify their reserves beyond the U.S. dollar in past years, including the euro, the Swedish krona, the Norwegian krone, the South Korean won, and the Australian and Canadian dollars.
- ETFs: CEW, AYT, JEM, PGD, FXE, ERO, ULE, URR, EUO, DRR, EUFX, ICN, INR, FXA, GDAY, CROC, FXC, FXS,
Thursday, Feb 72013, 4:02 PMA look beneath the hood of Schwab's (SCHW) recently unveiled lineup of 105 commission-free ETFs shows an impressive breadth of asset class coverage, including currency, physical metals and equal-weight sector ETFs not previously available for commission-free trading. Notably absent: iShares single country funds, 10 of which are available among the 101 ETFs TD Ameritrade (AMTD) offers commission-free. |Thursday, Feb 72013, 4:02 PM| Comment!
Tuesday, Jan 12013, 1:00 PM
Thursday, Sep 62012, 7:21 AMSweden's Riksbank unexpectedly cuts rates 25 basis points to 1.25%, citing weakness in the eurozone as lowering its expectations for exports and economic growth. The bank also notes a quick appreciation in the krona and nobody seems to want a strong currency these days. The rate decision wasn't unanimous - one member wanted a 50 bp cut. |Thursday, Sep 62012, 7:21 AM| Comment!
Wednesday, Apr 182012, 10:32 AMFirst it was the Bank of Canada talking about a "modest withdrawal" of monetary stimulus. Then Sweden's Riksbank snapped a run of rate cuts, followed by BoE superdove Adam Posen voting against more stimulus. "Is the tide finally turning for global central bank policy," asks William Kemble-Diaz. |Wednesday, Apr 182012, 10:32 AM| 1 Comment
Tuesday, Dec 202011, 3:37 AM
Friday, Dec 92011, 1:39 AMOf the 27 EU nations, 23 have agreed to tighten their fiscal coordination, though leaders remain deeply divided on the details of their crisis strategy. The U.K. will stand aside, while Hungary, Sweden and the Czech Republic have reserved their positions. All 17 eurozone nations are participating. |Friday, Dec 92011, 1:39 AM| 8 Comments
Tuesday, Nov 292011, 5:20 AMSweden's GDP grew at a zippy 4.6% annualized rate in Q3, besting estimates for 3.4% growth. One of the main drivers was an increase in exports, but given the state of the rest of the world, that GDP figure is likely to soften significantly in coming quarters. |Tuesday, Nov 292011, 5:20 AM| 1 Comment
Monday, Nov 282011, 11:36 AMKokusai Asset Management, Japan's largest mutual fund company, says it has unloaded all of its Italian, Spanish, and Belgian bond holdings, lowering the level of euro-denominated paper in its flagship fund to 15.9% from more than 30% two months ago. Hopefully not auguring the next trouble spots, the fund is redirecting assets to the debt of Canada, Australia, Sweden, and Norway. |Monday, Nov 282011, 11:36 AM| 1 Comment
Tuesday, Sep 202011, 3:23 PMThe Sweden ETF (EWD +2.4%) is enjoying a nice rally as the government - currently running a surplus - unveils a $4.75B stimulus package and says it expects interest rates to fall over the coming 15 months. The state recently slashed its growth forecast for 2012 from 3.8% to 1.3%, and now says even the revised figure may not get hit. |Tuesday, Sep 202011, 3:23 PM| Comment!
Wednesday, Sep 72011, 10:15 AMThe Riksbank leaves its benchmark rate unchanged at 2%, and lowers expectations for future rate hikes as both domestic and global growth prospects deteriorate. In fact, some analysts are calling for the next move in Sweden to be a rate cut. Swedish shares ETF: EWD +1.7%, Krona ETF: FXS +1.3%. |Wednesday, Sep 72011, 10:15 AM| Comment!
Thursday, Aug 182011, 12:57 PMThe move higher in the Swiss franc is played out, says Bob Noyen, whose hedge fund banked some money on out-of-the-money call options on the swissie. Expecting the ECB to resort to its own QE, he's got a new list of safe havens - the Czech koruna. the Swedish krona (FXS), as well as the commodity currencies (FXA), (FXC). |Thursday, Aug 182011, 12:57 PM| Comment!
Tuesday, Jul 52011, 7:21 AM
Friday, Jul 12011, 8:55 AM'Risk-on' investors have been moving out of the safehaven Swiss franc (FXF) in favor of the Swedish krona (FXS) on the heels of Greece's austerity plan. But weak Swedish PMI data, and the transience of the recovery in global risk sentiment, could easily cap the potential of this pair trade. |Friday, Jul 12011, 8:55 AM| 1 Comment
Monday, Jun 132011, 4:21 PM
Wednesday, May 252011, 7:52 AMRiksbank Deputy Gov. Barbro Wickman-Parak preps the market for continued rate hikes, noting recently declining unit labor costs have turned upwards. The bank has hiked 6 times since July, bringing its benchmark rate to 1.75%. Six hikes and still just 1.75%? FXS +23% Y/Y. |Wednesday, May 252011, 7:52 AM| Comment!