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ProShares Ultra Euro ETF (ULE)

- NYSEARCA
  • Jul. 15, 2014, 3:50 AM
    • Mario Draghi is warning that that euro zone recovery is at risk with a strong euro and highlighted that large-scale purchases of public and private debt do fall within the ECB's mandate to keep inflation low and stable.
    • EU growth has been facing a difficult time with the appreciated exchange rate threatening price stability. The euro came close to the $1.40 level in recent months from 1.20 against the dollar in mid-2012.
    • Draghi has also urged EU member states to implement tougher structural reforms to boost economic development.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 1 Comment
  • Jul. 3, 2014, 8:50 AM
    | 1 Comment
  • Jun. 17, 2014, 3:41 AM
    • The European Central Bank's monetary easing earlier this month has spelled trouble for the euro, and analysts say a sentiment shift has attributed further weakness. After hitting a 2-1/2 year high hit in early June, the euro has declined over 3%, due in part to the ECB's negative interest rates, and cut to its main lending rate.
    • Carry trades, which borrow money in a currency that is backed by a low interest rate to fund investments in higher-yielding assets, have also increased using the euro.
    • Both the ECB's monetary easing and carry trades have been main factors in causing a declining euro. Data released last week shows the net short position for the euro/dollar reaching its highest level since late May 2013.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 1 Comment
  • Jun. 5, 2014, 8:42 AM
    | 32 Comments
  • Jun. 3, 2014, 5:48 AM
    • Euro zone flash inflation data for May is due today, with the consensus being a 0.7% rise year-on-year. The numbers are expected to detail decreasing price pressures in the region and reinforce the case for a heavy monetary stimulus from the European Central Bank.
    • Barclays, RBS and JPMorgan predict an annual inflation reading of 0.5%, which is far below the European Central Bank's target of near or just below 2%. A softer reading will also boost the chances of the ECB loosening it's policy towards negative deposit rates when it meets on Thursday.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • May. 15, 2014, 5:10 AM
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  • May. 15, 2014, 2:08 AM
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  • May. 13, 2014, 7:11 AM
    • Germany's Bundesbank is willing to support significant ECB stimulus if the latter's inflation forecasts for the period through 2016 are lowered, the WSJ reports.
    • Measures could include a negative rate on bank deposits and purchases of packaged bank loans as the Bundesbank lends its weight to the battle to stop low inflation becoming permanent and even becoming deflation. However, the bank is still resistant to large-scale purchases of public and private debt.
    • Still, the Bundesbank's readiness to counter stimulus marks a departure from its traditionally strong opposition to such action.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EU, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, EUFX, ULE, ADRU, FEEU, URR, EURL, EURZ, FIEU, DBEU
    | Comment!
  • May. 9, 2014, 2:09 AM
    • Germany's exports fell 1.8% on month in March after dropping 1.3% in February and missed forecasts for a rise of 1%.
    • Imports declined 0.9% vs +0.4% and +0.5%.
    • The trade surplus slipped to €14.8B from €15.8B and missed consensus of €16.6B.
    • The current account surplus increased to €19.5B from €13.8B.
    • The euro gives back earlier gains and is flat at $1.38349, while DAX futures are +0.1%. (PR)
    • ETFs: FXE, EUO, EWG, ERO, DRR, BUND, EWGS, EUFX, ULE, GERJ, DBGR, BUNL, DXGE, URR, FGM, BUNT, GGOV
    | 1 Comment
  • May. 8, 2014, 9:37 AM
    • The euro slides from its highest level in two years after ECB President Draghi - speaking at the post-policy meeting press conference - says board members are comfortable taking additional policy action in June if necessary.
    • Nearly touching $1.40 to the dollar following the ECB standing pat at this month's meeting earlier today, the euro has tumbled back to $1.3890.
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • May. 8, 2014, 7:55 AM
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  • May. 6, 2014, 12:27 PM
    • Germany's growth premium in comparison to Europe is shrinking, impacting 25% of Germany’s equity market revenues, says global equity strategist Andrew Garthwaite, moving to a benchmark weighting in German stocks from overweight.
    • He also notes the country's competitiveness and funding-cost advantages are on decline, and it has three times more export exposure to China than Europe as a whole.
    • German's DAX 30 Index closed -0.7% today.
    • German ETFs: EWG, BUND, EWGS, DBGR, GERJ, DXGE, BUNL, FGM, BUNT, GGOV, HEWG
    • France, on the other hand, is moved to overweight as a play on ECB launching QE. "Bond spreads are consistent with outperformance, and France stands to benefit more than Germany from any ECB easing," says Garthwaite.
    • P/E valuations are 5% below average, and 75% of the companies in CAC 40 have restructuring potential, he says.
    • Particularly cheap are the French banks: CRARY, SCGLY, BNPZY. Also looking good: Renault (RNSDF), AXA (AXAHY -1.6%), and Total (TOT -0.4%).
    • The CAC 40 closed -0.8% today.
    • French ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • May. 5, 2014, 5:26 AM
    • The European Commission expects eurozone GDP to grow 1.2% this year and 1.7% in 2015 following two consecutive years of contraction. However, the 2015 prediction is down from a prior forecast of 1.8%.
    • On the other hand, the EC upgraded its outlook for Spain to growth of 2.1% next year from a previous estimate of 1.7%.
    • "Overall, the outlook has improved, but it remains conditional on continued credible action on several fronts at national and EU levels," says the EC's Marco Buti.
    • The modest growth in the eurozone will help unemployment fall to 11.8% in 2014 and 11.4% in 2015 from 12% in 2013, the EC said.
    • The commission cut its inflation forecast to 0.8% this year and 1.2% next year - the ECB's target is just under 2% - but it believes that the probability of deflation is low.
    • The euro is +0.05% at $1.3876.
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EU, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, EUFX, ULE, ADRU, FEEU, URR, EURL, EURZ, DBEU, FIEU
    | 2 Comments
  • May. 2, 2014, 10:32 AM
    • "There ETFs could skew HARD (usually higher) away from NAV," warns Stifel's Dave Lutz. ProShares this morning has suspended the ability to buy new units in the following ETFs: UCD, CMD, BOIL, KOLD, GDAY, CROC, ULE, EUFX, YCL, SVXY, and VIXM, "pending the effectiveness of a post-effective amendment to the funds’ registration statement."
    • Brendan Conway notes any moves higher - should they occur - would likely be temporary, noting something similar happened in a VelocityShares product two years ago.
    | 4 Comments
  • May. 2, 2014, 5:35 AM
    | Comment!
  • May. 2, 2014, 4:20 AM
    • Eurozone manufacturing PMI increased to 53.4 (flash 53.3) in April from 53 in March.
    • All the nations covered indicated factory sector growth, which, says Markit "highlights how the recovery is becoming more broad-based."
    • German growth accelerated, while Irish PMI hit a 38-month high and that of Italy a 36-month high, with exports out of Spain and Italy growing strongly. In contrast, France's export performance was mediocre.
    • The euro is -0.1% at €1.3856. (PR)
    • ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EU, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, EUFX, ULE, ADRU, URR, FEEU, EURL, EURZ, DBEU, FIEU
    | Comment!
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ULE Description
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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