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
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.
Oct. 25, 2013, 5:38 AM
- European stocks are mostly lower as sentiment is hurt by China's tightening of its cash markets, the negative impact of the strong euro on company earnings and a surprise fall in German business confidence.
- An increase in U.K. economic growth has not been able to totally offset the downbeat mood.
- EU Stoxx 50 -0.3%, London flat, Paris -0.4%, Frankfurt -0.1%, Madrid -0.7%, Milan -1.1%.
- 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
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
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.
Aug. 28, 2013, 7:38 AM
- 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.
Aug. 27, 2013, 7:49 AM
- 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.
Aug. 14, 2013, 2:09 AM
- 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
Jun. 21, 2013, 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%. | Jun. 21, 2013, 8:43 AM | 2 Comments
Jun. 6, 2013, 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. | Jun. 6, 2013, 10:55 AM | 1 Comment
May 16, 2013, 11:34 AM
May 6, 2013, 10:44 AM
May 2, 2013, 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. | May 2, 2013, 9:16 AM | 5 Comments
May 2, 2013, 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%. | May 2, 2013, 9:07 AM | 1 Comment
Apr. 23, 2013, 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. | Apr. 23, 2013, 5:35 AM | 1 Comment
Apr. 17, 2013, 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." | Apr. 17, 2013, 10:38 AM | 3 Comments
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