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ULE vs. ETF Alternatives
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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Thursday, Oct 242013, 2:44 AM
Thursday, Oct 242013, 2:44 AM| Comment!
- The euro has risen above $1.38 for the first time since November 2011 and is +0.4% at $1.3817, with the dollar continuing to be dragged down by expectations that the Fed will delay tapering its QE program until next year.
- The U.S. dollar index is -0.2%.
- ETFs - FXE, ERO, ULE, URR, EUO, DRR, EUFX, DBV, UUP, UDN, UUPT, UDNT
Wednesday, Oct 22013, 8:52 AM
Wednesday, Oct 22013, 8:52 AM| Comment!
- Euro area growth risks remain on the downside, says Mario Draghi at his press conference (webcast) following the ECB decision to leave policy unchanged. The most recent signs points to a somewhat weaker economy in Q3, he adds.
- In other comments, Draghi says there was a discussion of a rate cut and gives a nod towards a euro acting somewhat strong of late, saying the exchange rate is important for the growth outlook. He says he's "closely monitoring."
- For whatever reason, the euro (FXE) moves higher as the press conference moves on, now +0.3% at $1.3570.
- Other euro ETFs: ERO, ULE, URR, EUO, DRR, EUFX.
Wednesday, Aug 282013, 7:38 AM
Wednesday, Aug 282013, 7:38 AM| 1 Comment
- The 10-year yield fell to as low as 2.70% overnight, but is currently 3 bps above yesterday afternoon at 2.74%. TLT -0.4% premarket.
- Europe's off moderately and Asia fell inline with yesterday's decline in the U.S., but crude oil surged more than $3 per barrel to $112 before falling back to just above $109 at the moment.
- The dollar (UUP) is stronger across the board, with the euro (FXE), cable (FXB), yen (FXY), swissie (FXF), and loonie (FXC) all off somewhere in the area of 0.5% against the greenback. As is typical of late, the aussie's (FXA) decline is somewhat higher, -0.8%.
- Other dollar ETFs: UUPT, UDN, UDNT.
- Related currency ETFs: ERO, ULE, URR, EUO, DRR, EUFX, GBB.
- Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, DSTJ, DSXJ, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.
Tuesday, Aug 272013, 7:49 AM
Tuesday, Aug 272013, 7:49 AM| 4 Comments
- Moving along with the precious metals over Syrian tension is crude oil, with both WTI crude (USO) and Brent (BNO) up more than 1.6%. WTI at $107.50 per barrel is threatening to take out levels last seen in the Spring of 2011.
- The greenback is also catching a bid, moderately higher against the euro (FXE), cable (FXB), and the loonie (FXC), but sharply higher vs. the aussie (FXA). The dollar is losing a good bit of ground against the yen (FXY), and off just a bit vs. the Swiss franc (FXF).
- Dollar ETFs: UUP, UUPT, UDN, UDNT.
- Related currency ETFs: FXE, ERO, ULE, URR, EUO, DRR, EUFX, GBB, YCL, YCS, JYN.
- Oil ETFs: OIL, USO, DBO, OLO, USL, CRUD, UCO, DTO, SCO, SZO, DNO, UWTI, DWTI, BNO, UOIL, DOIL.
Wednesday, Aug 142013, 2:09 AM
Wednesday, Aug 142013, 2:09 AM| Comment!
- German Q2 GDP +0.7% on quarter vs flat in Q1 and consensus of +0.6%.
- On year, NSA GDP +0.9% vs -1.6% and +0.3%; WDA GDP +0.5% on year vs -0.3% in Q1.
- Having spiked following French GDP, the euro receives another boost and is now +0.1%.
- German ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR; Bonds - BUNL, BUNT, BUND, GGOV.
- Eurozone ETFs - Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX. Equities: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU
Friday, Jun 212013, 8:43 AMSizable pre-open gains in stock index futures melt away with the crumbling of Greece's ruling coalition as good of an excuse as any for selling. Just like the old days: The euro (FXE) quickly slips about 70 pips and the Stoxx 50 (FEZ) drops 1%, now flat on the session. S&P 500 (SPY) futures +0.25%. |Friday, Jun 212013, 8:43 AM| 2 Comments
Thursday, Jun 62013, 10:55 AMEurope turns decidedly lower, the Stoxx 50 now off 0.8% following Mario Draghi's press conference, with markets perhaps deciding to punish his somewhat smug performance: "OMT has probably been the most successful monetary measure for some time." - a curious statement considering it doesn't yet exist and Draghi admitted the legal paperwork isn't complete. Leading to the downside is Italy (EWI), tumbling 2.3%. The euro (FXE) continues to rise, +0.7% to $1.3182. |Thursday, Jun 62013, 10:55 AM| 1 Comment
Thursday, May 162013, 11:34 AM
Monday, May 62013, 10:44 AM
Thursday, May 22013, 9:16 AMIt tells you all you need to know, says Danske's Owen Callan, that the ECB would consider negative deposit rates rather than buying government paper. Draghi saying he has an "open mind" on negative deposit rates looks to be what sent the euro tumbling about 100 pips on one 5-minute bar. FXE -0.6% premarket. |Thursday, May 22013, 9:16 AM| 5 Comments
Thursday, May 22013, 9:07 AM"There was a very strong prevailing consensus towards an interest rate cut," says Draghi, now taking questions at his press conference. The answer suggests the vote wasn't unanimous (Weidmann?). As Draghi points to higher stock prices as one measure of the ECB's success, markets turn tail, the Stoxx 50 (FEZ) now off 0.5%, and the euro (FXE) really tumbling, -0.8%. |Thursday, May 22013, 9:07 AM| 1 Comment
Tuesday, Apr 232013, 5:35 AMEuropean equities climb following mixed eurozone PMI data, with German shares just about brushing off poor PMI readings for the country, although the euro falls vs the dollar. EU Stoxx 50 +0.8%, London +0.5%, Paris +1.2%, Frankfurt +0.1%, Milan +0.7%, Madrid +1%. Euro -0.7% at $1.2979. |Tuesday, Apr 232013, 5:35 AM| 1 Comment
Wednesday, Apr 172013, 10:38 AMSmoking the euro (FXE -1%) but offering no help to European stocks (FEZ -3%) is the ECB's (and Germany's) hawkish Jens Weidmann suggesting the central bank could slash rates if punkish economic data keeps rolling in. He brushes aside the idea the region's debt crisis is anywhere near over. "The calm that we are currently seeing might be treacherous." |Wednesday, Apr 172013, 10:38 AM| 3 Comments
Wednesday, Mar 272013, 8:06 AMThe euro's (FXE) continued sharp decline - off nearly 10 big numbers since early February - has the bears feeling their oats. Guggenheim's Scott Minerd - burned badly shorting the common currency in 2011 - says he got short again at $1.34 and sees the euro going to parity with the greenback as the ECB will eventually have to buy up peripheral government debt. |Wednesday, Mar 272013, 8:06 AM| 1 Comment
Monday, Mar 252013, 5:12 AM
Monday, Mar 182013, 2:57 AMAsian shares fall sharply following news of the raid on bank deposits in Cyprus as part of the island's bailout. The planned move also sends the euro and oil lower, while the yen regains its safe-haven status. Japan -2.7%, Hong Kong -2.4%, China -1.5%, India -0.9%. Euro -1.3% vs the dollar, -1.3% vs the pound, -2.2% vs the yen and -0.6% vs the Swiss franc. The yen is also +0.9% vs the dollar. WTI -1.2%, gold +0.3%. |Monday, Mar 182013, 2:57 AM| Comment!