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ProShares Ultra Euro ETF (ULE)

  • Mar. 2, 2012, 11:53 AM
    European shares close mixed in quiet trade following today's summit of EU leaders. Stoxx 50 -0.1%, Germany -0.4%, France flat, Italy +0.5%, Spain +0.1%, U.K. -0.4%. The euro continues to slide, -0.9% to $1.3194, and off more than 2% from midweek - just about the time folks were getting bullish on the currency again. Go figure.
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  • Mar. 2, 2012, 7:51 AM
    The official statement released as the EU summit breaks up contains the usual pablum "welcoming the progress" made on the Greek situation. Of most interest: "Euro area Heads of State ... recall their determination to do whatever is necessary ... and their readiness to act accordingly." For 2 years, many have questioned the commitment to EMU. Can anyone do so now?
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  • Mar. 2, 2012, 7:01 AM
    German retail sales unexpectedly slide 1.6% in January (+0.1% previous) against expectations for a gain of 0.5%. Sales rose 1.6% Y/Y. The euro -0.6% to $1.3235, with today's decline beginning right around the time of weak print.
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  • Feb. 29, 2012, 5:37 PM
    With the January air thick with forecasts of the euro dropping to $1.15 or even parity, the currency took flight, rising 6% in 6 weeks and squashing the shorts. Now - on the day of the continent-saving LTRO - from the FT:  "ECB loan boost heartens euro bulls," coming to print just about the time the currency reverses and dives 1%. Market cycles never get old.
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  • Feb. 29, 2012, 10:17 AM
    The euro goes into a tailspin on the release of the Bernanke testimony, diving about 50 pips and now down 0.4% on the day at $1.3403. It's a curious move given the lack of news in the Chairman's report, and even more curious considering the ECB conjuring up €529.5B earlier had little effect on the currency.
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  • Feb. 29, 2012, 9:30 AM
    Thought to have been mothballed after 2 weeks of no action, the SMP - the ECB's emergency sovereign bond purchase program - may be back. Bloomberg's Linda Yueh reports the central bank is hoovering up Portuguese paper as the 10-year yield blows out today.
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  • Feb. 29, 2012, 8:27 AM
    "Catastrophe has been avoided," says Citi chief economist (and former central banker) Willem Buiter of the ECB's liquidity gusher. Buiter expects "other episodes of near-panic and paralysis in the markets" to call on the ECB again as more EU sovereigns restructure debt and more holes are discovered in bank balance sheets. (video)
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  • Feb. 28, 2012, 3:53 PM
    The results of the ECB's LTRO are scheduled to be released about 5:15 AM ET tomorrow, with estimates seeing the take-up at €500B. "Consensus is that an LTRO that is higher, equal to, or lower than consensus ... will all be positive for the euro," writes ZH of the currency which has defied mostly bearish forecasts thus far in 2012.
  • 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, 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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ProShares Ultra Euro seeks daily investment results, before fees and expenses, that correspond to twice (200%) the U.S. Dollar price of the Euro.
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