Seeking Alpha

ProShares Ultra Euro ETF (ULE)

  • Dec. 18, 2012, 10:56 AM
    The already-approved (see Tepper) rate cut in Mario Draghi's back pocket may see the light of day soon if the euro continues its run higher. Financial implosion may be off the table, but the EU economy remains in recession, and the euro just broke out to an 8-month high of $1.3210. FXE +0.35%.
    | Comment!
  • Dec. 7, 2012, 7:51 AM
    More on the euro: A leak out of the ECB says a majority of the governing council support a rate cut, suggesting to be prepared for one in early January. A cut in the overnight lending rate would bring it to 0.5%, but a cut in the deposit rate would bring that into negative territory. It's a new world. The euro briefly falls below $1.29 before quickly reclaiming the level.
    | Comment!
  • Oct. 16, 2012, 7:58 AM
    Germany is open to a precautionary credit line for Spain, reports Bloomberg. Spain is supposedly interested in a bailout "line of credit" in which the ESM would approve but not disburse any funds until Spain draws on them - more "bazooka in pocket" stuff. The euro adds 35 pips to already solid gains, +0.8% to $1.3049.
  • Sep. 14, 2012, 7:13 AM
    The dollar continues a big move lower following the Fed's open-ended QE announcement and Bernanke's anything it takes as long as it takes press conference. The euro +1% to $1.3116, the aussie +0.5% to $1.06 - neither of those handles have been seen for months. The loonie +0.4% to $1.0367, a 2012 high.
    | Comment!
  • Sep. 5, 2012, 10:09 AM
    The euro/Swiss franc cross continues a big move higher, touching CHF 1.2046 as the SNB declines to comment on speculation it is considering raising the CHF 1.20 floor. These occasional rumors are helpful to the SNB, perhaps allowing the bank to unload some of its vast stash of euros at prices higher than it bought them for.
    | Comment!
  • Aug. 23, 2012, 11:04 AM
    Rumors about a Spanish bailout - including ECB bond buys - aren't enough to move the needle on stocks, but do send the euro hurtling higher by nearly 50 pips. Old habits die hard. FXE +0.5%. Shares in Madrid remain lower by 1.4%.
  • Aug. 2, 2012, 8:19 AM
    Euro shorts are getting fried following the ECB rate decision (no change) and ahead of Mario Draghi's press conference at which big things are expected. The euro +1% vs. the greenback to $1.2342. Maybe more interesting is movement higher in the euro/Swiss franc cross, now at 1.2025 after being locked at 1.2010 for months. FXE +1% premarket.
    | 1 Comment
  • Jul. 30, 2012, 3:11 AM
    Spain's preliminary Q2 GDP -0.4% Q/Q, slightly worse than the -0.3% registered in Q1. The data is in-line with expectations but the euro is under pressure, -0.45% to $1.2277.
    | Comment!
  • Jun. 29, 2012, 3:15 AM
    European markets rocket out of the gate as investors cheer progress on a tighter union and bank recapitalization. London +1.7%. Paris +3.0%. Frankfurt +2.4%. Madrid +4%. Euro +1.2% to $1.2592. Sterling +1% to $1.5664.
  • Jun. 18, 2012, 4:25 AM
    European markets are still up but have given back earlier gains. London +0.1%. Paris +0.2%. Frankfurt +0.8%. Greece's ASE index has also pulled back, though it's still +5.7% following election results. Euro -0.6% to $1.2638.
    | Comment!
  • May. 24, 2012, 9:14 AM
    "Pencil in" another LTRO announcement at the ECB's July meeting, says JPMorgan, also predicting a 25 basis point rate cut for September. The bank cites today's PMI reads as the final straw to stir the ECB to action (then why wait until September?). Something is clearly up in the currency markets, where the euro has spiked higher vs. the dollar and, more interestingly, against the Swiss franc.
    | 1 Comment
  • May. 3, 2012, 8:47 AM
    The euro is erasing the bulk of substantial early losses as Draghi talks about downside risks to the economy, but reiterates the ECB's primary role: Price stability. Euro now down just a couple of pips at $1.3154.
    | Comment!
  • Apr. 13, 2012, 10:09 AM
    Europe touches new session lows about an hour and a half before its close for the week. Stoxx 50 -2.3%, Spain (earlier) -3.3%, Italy -2.8%, Germany -2.1%. Banco Santander (STD -3.3%), SocGen (SCGLY.PK -5.4%, Deutsche Bank (DB -3.8%), Financial ETF: EUFN -2.3%. Euro -0.7% to $1.3099.
  • Mar. 13, 2012, 6:57 AM
    European shares, particularly Germany, move to new session highs following the big jump in economic sentiment. Stoxx 50 +1.1%, Germany +1.1%. Curiously for what has been a "risk" asset, the euro moves to session lows, -0.4% at $1.3110.
    | Comment!
  • Mar. 9, 2012, 9:07 AM
    The dollar is moving sharply higher against most major currencies following the jobs report. It's the opposite of recent market action where, perversely, strong U.S. economic news saw the greenback drop as money moved into "risk" assets, of which the euro, the pound, and the aussie are now thought of. The euro -1.1%, pound -0.7%, aussie -0.4%, yen -1.1%. UUP +0.8% premarket.
    | 1 Comment
  • Mar. 8, 2012, 9:34 AM
    The euro sheds a chunk of the day's gains as Draghi's press conference - which can be best described as a victory lap by a man who feels he has won a big battle, if not the war - moves towards conclusion. European shares remain solidly higher, Stoxx 50 +1.4%. Euro +0.6% at $1.3233.
    | Comment!
ULE vs. ETF Alternatives
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.
See more details on sponsor's website
Find the right ETFs for your portfolio: Seeking Alpha's new ETF Hub