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ProShares Ultra Euro ETF (ULE)

- NYSEARCA
  • Dec. 5, 2013, 9:07 AM
    • Exchange rates are a matter of common concern, but they are not a target of monetary policy, says Mario Draghi at his press conference following the ECB policy meeting today (no change). The goal, he says, is price stability.
    • On negative interest rates, Draghi says the topic was brought up, but only got a "brief" discussion.
    • The borderline hawkish comments are enough to send the euro higher by about 75 pips, now +0.25% on the session and buying $1.3632. FXE +0.3%  remarket.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    • Webcast
    | Comment!
  • Nov. 21, 2013, 4:14 AM
    • As expected, Eurozone flash manufacturing PMI has edged up to a 29-month high of 51.5 in November from 51.3 in October.
    • However, services slipped to 50.9 from 51.6 and missed consensus of 51.9.
    • Composite output declined to 51.5 from 51.9 and fell short of forecasts of 52.
    • Manufacturing output edged down to 52.8 from 52.9.
    • "It looks like momentum is being lost again," says Markit. "Deflationary forces may be gathering," while growth outside the "big two" of Germany and France "slowed to near-stagnation." French activity actually contracted.
    • Overall, the data is indicating that eurozone GDP will rise a "very modest 0.2%" in Q4, says Markit. The second-successive fall in PMI "suggests that the ECB was correct to cut interest rates to a record low at its last meeting."
    • The euro is -0.1% at $1.3423. (PR)
    • ETFs: FXE, VGK, EUO, FEZ, ERO, EU, EPV, IEV, EZU, DFE, DRR, HEDJ, GXF, GUR, FEU, EUFX, FDD, ESR, UPV, ULE, FEP, URR, ADRU, FEEU, DBEU, FIEU
    | 2 Comments
  • Nov. 21, 2013, 3:42 AM
    • German flash manufacturing PMI has climbed to a 29-month high of 52.5 in November from 41.7 in October and topped consensus of 52.
    • Services jumped to 54.5 from 52.9 and vs 53.
    • Manufacturing output rose to 54 from 53.6.
    • Composite output increased to 54.3 from 53.2.
    • The data suggests that the German economy "is well on track to achieve growth of close to 0.5%" in 2013, says Markit.
    • Strong new business and backlogs indicate that the solid growth momentum will be sustained, with improvements in investment spending and job creation set to follow the upturn in business conditions.
    • The DAX is -0.8%, while the euro recovers its post French PMI losses and is -0.1%. (PR)
    • ETFs: FXE, VGK, EUO, EWG, FEZ, ERO, EU, EPV, IEV, EZU, DFE, DRR, HEDJ, GXF, GUR, BUND, FEU, EUFX, FDD, ESR, UPV, ULE, FEP, BUNL, URR, GERJ, ADRU, FEEU, DBGR, BUNT, FGM, GGOV, DXGE, DBEU, FIEU
    | 4 Comments
  • Nov. 21, 2013, 3:14 AM
    • French flash manufacturing PMI has fallen to 47.8 in November from 49.1 in October and missed consensus of 49.5.
    • Services dropped to 48.8 from 50.9 and vs 51.
    • Manufacturing output declined to 47.2 from 49.
    • Composite output slipped to 48.5 from 50.5.
    • "The poor set of figures underline the fragility of the economy in the face of a persistently anemic demand environment," Markit says. "Although remaining above the levels seen in the first half of the year, PMI data highlight the risk of a return to recession for France in Q4 following the 0.1% fall in GDP during Q3."
    • The CAC 40 (EWQ) take a dive and is -0.9%. The euro also tumbles and is -0.3% at $1.3402. (PR)
    • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | Comment!
  • Nov. 20, 2013, 11:07 AM
    • A tweet from Bloomberg saying the ECB is mulling a negative deposit rate as a way for more stimulus sends the euro (FXE -0.6%) lower by nearly 100 pips in a manner of minutes.
    • The ECB, of course, surprised a few with a benchmark lending rate cut to 0.25% earlier this month (the deposit rate remained at 0%), then board member Peter Praet dropped a bombshell with the suggestion of Anglo-Saxon style QE coming to Europe.
    • The moves have succeeded in weakening the euro from a lofty $1.38 to the current $1.3461.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 6 Comments
  • Nov. 15, 2013, 5:34 AM
    • As expected, Eurozone CPI dropped 0.1% on month in October vs +0.5% in September.
    • On year, inflation fell to +0.7% (also in line) vs +1.1% previously.
    • Core CPI +0.8% vs +1%.
    • Inflation fell further away from the ECB's target of just under 2%, possibly giving the bank even further room to cut interest rates to zero - although the German's would surely have something to say about that - following the surprise reduction last week to 0.25%. (PR)
    • EU stocks are mixed heading towards midday following the Yellen-induced rally yesterday, with the EU Stoxx 50 -0.1%, London +0.3%, Paris flat, Frankfurt flat, Milan -0.7% and Madrid -0.1%.
    • ETFs - Stocks: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX
    | Comment!
  • Nov. 14, 2013, 5:32 AM
    • Eurozone Q3 GDP (Q/Q): +0.1% versus +0.2% expected and +0.3% previous.
    • The euro (-0.3%) drops to session lows against the greenback on the news as investors view the weaker-than-expected data as evidence that the ECB will need to maintain an ultra-accommodative policy stance for the time being.
    • ETFs - Stocks: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX
    | 1 Comment
  • Nov. 13, 2013, 10:47 AM
    • The euro (FXE -0.3%) tumbles 50 pips after ECB member Peter Praet - in a chat with the WSJ - suggests asset purchases or negative rates are tools the central bank could use if necessary to lift inflation up to its target. "If our mandate is at risk we are going to take all the measures that we think we should take to fulfill that mandate. That's a very clear signal."
    • Challenging $1.40 not long ago, the euro has dropped to $1.3392 in the few days since a report showed inflation dipped to 0.7% in October, well below the ECB's 2% target.
    • The ECB has since cut its benchmark lending rate 25 basis points to 0.25%. The deposit rate has been zero for some time.
    • The easing stance of the ECB is off sharp contrast with the Fed and Bank of England, both of which are making noises about tighter policy.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    | 1 Comment
  • Nov. 7, 2013, 7:57 AM
    • The euro (FXE) dives more than 100 pips after the ECB somewhat unexpectedly cuts interest rates. The benchmark refinancing rate is cut 25 basis points to 0.25% and the marginal lending facility 25 basis points to 0.75%.
    • The stage had seemingly been set for a rate change with a very slow inflation report last week and then the central bank slashing its growth forecast for the EU this week, but a leak yesterday said there would be no move.
    • Down a bit earlier, European stock indices are now ahead by more than 1%. U.S. stock index futures also get a boost, the S&P 500 (SPY) now +0.4%.
    • ECB chief Mario Draghi's press conference begins at 8:30 ET.
    • European stock ETFs: VGK, FEZ, EPV, IEV, EZU, HEDJ, FEU, UPV, FEP, ADRU, FEEU, DBEU, FIEU.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR.
    • S&P 500 ETFs: SPY, SH, SSO, SDS, IVV, SPXU, UPRO, VOO, RSP, RWL, EPS, BXUB, TRND, SFLA, BXUC, BXDB.
    | 7 Comments
  • Nov. 6, 2013, 10:13 AM
    • The euro pops about 40 pips as what was always a small chance of an ECB rate cut tomorrow is squelched. The ECB wants to avoid over-reacting to fast-changing economic signals, reports Bloomberg, citing a source who mentions the Fed's taper fiasco from September.
    • Amid these "signals" is a recent report showing an unexpectedly soft rate of European inflation. The European Commission yesterday slightly reduced its 2014 growth forecast for the eurozone.
    • The euro (FXE +0.5%) is buying $1.3540.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR.
    | Comment!
  • Nov. 6, 2013, 7:00 AM
    • German factory orders surged 3.3% on month in September, rebounding from a fall of 0.3% in August and slaying expectations for growth of 0.5%.
    • On year, orders jumped 7.9% after climbing 3.1% a month earlier.
    • Foreign bookings rose 6.8% in September, with eurozone demand climbing 9.7%, although domestic orders fell 1%. Still, foreign demand remains rather weak, Germany's Economy Ministry says. "The data confirm the picture of an increasingly domestically driven economic recovery."
    • The data adds to PMI readings that show continued growth in overall German business activity.
    • The euro spikes and is +0.2% vs the dollar, while the Dax is +0.4%.
    • ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR. Bonds: BUNL, BUNT, BUND, GGOV. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX
    | Comment!
  • Nov. 1, 2013, 11:41 AM
    • Boosted earlier in the week by a slow European inflation print, the dollar (UUP +0.6%) continues a nice run following a (barely) hawkish Fed Wednesday, and strong regional and national manufacturing data yesterday and today.
    • The biggest move has come against the euro (FXE), where ECB rate cut hopes arise after EU annual CPI came in at just 0.7% in October vs. consensus 1.1%. Core CPI of 0.8% fell from 1% previously. Pushing $1.40 and having the bears avoiding margin clerks one week ago, the euro now is buying just $1.3485.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR.
    • Dollar ETFs: UUPT, UDN, UDNT.
    | Comment!
  • Oct. 25, 2013, 5:38 AM
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  • Oct. 24, 2013, 2:44 AM
    • 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
    | Comment!
  • Oct. 2, 2013, 8:52 AM
    • 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.
    | Comment!
  • Aug. 28, 2013, 7:38 AM
    | 1 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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