|Bid||44.46 x 1000|
|Ask||44.50 x 1000|
|Day's Range||44.38 - 44.42|
|52 Week Range||39.39 - 44.49|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||9.90|
|Expense Ratio (net)||0.97%|
The euro currency and related ETF have been stuck in a rut as concerns over Italy's budget scuffle with the European Union and speculation of an Italian exit from the euro bloc. Dragging on euro currency sentiment, Claudio Borghi, who leads the economic policy of the ruling Lega party in Italy, cast doubt over the country's membership in the Eurozone, CNBC reported. "I am truly convinced that Italy would solve most of its problems if it had its own currency," Borghi said in a radio interview Tuesday.
Economic data released from the euro area remained upbeat as economic data that included German and French business activity was better than expected. The other major factor that drove the euro higher was the assurances by Italian politicians that their nation would stay within the European Union. European equity markets, which are tracked by the Vanguard FTSE Europe ETF (VGK), didn’t have the same enthusiasm as the euro, as new tariff threats to the European car industry from the Trump administration unnerved investors.
The euro-dollar (FXE) exchange rate managed to move back above 1.16 against the US dollar (UUP) as Italy’s Five Star Movement and League formed a coalition last week. European equity markets, which are tracked by the Vanguard FTSE Europe ETF (VGK) remained under pressure as political uncertainty in Italy and Spain remained in focus. As per the latest Commitments of Traders report, which was released by the Chicago Futures Trading Commission on June 1, speculators have decreased their bullish positions on the euro (EUFX) by 16,707 contracts as of May 29.
Given the worsening politics, investors seeking to consider a near-term short on the country and its currency could bet on any of the following ETFs.
The euro currency and related exchange traded funds retreated as a political upheaval in Italy fuels concerns that the third-largest Eurozone member could pull out from the currency bloc. The C urrencyShares Euro Currency Trust (FXE) fell 1.1% Tuesday with the euro currency now trading around $1.1542, its lowest level in six months. “There’s an existential threat hanging over the single currency if we head into more elections this summer, I don’t know how we get away from that now, given the scale of the financial implications,” Kit Juckes, chief foreign exchange strategist at Société Générale, told the Wall Street Journal.
Last week, the euro-dollar (FXE) exchange rate moved below 1.16 for the first time in six months, driven lower by Italian and Spanish political uncertainty. With no mainstream party in the lead, Italy could face another election in a few months. The election could give a lead to populist parties, which is seen as a threat to Italian membership in the European Union. Similar uncertainty exists in Spain, with Spanish Prime Minister Mariano Rajoy facing a thrust vote on June 1.
With the U.S. dollar appreciating against foreign currencies, currency traders and international investors can ride the wave or hedge against weakness in other areas through exchange traded funds. The ...
The euro-dollar (FXE) exchange rate closed at 1.2 on May 11, with the euro depreciating by 0.13% against the US dollar (UUP). The euro’s slide was halted despite weaker-than-expected European data thanks to the US dollar taking a breather.
The euro-US dollar (FXE) exchange rate closed at 1.19 on May 7, with the euro depreciating 1.4% against the dollar (UUP) in May following a 2.0% decline in April. The resurgence of the US dollar, backed by rising US bond yields and continued economic expansion, led to decreased demand for the euro. The European Central Bank’s dovish stance at its recent meeting and weak economic data pressured the euro further.
The euro-dollar (FXE) exchange rate closed the week ending April 27 at 1.2131, depreciating 1.28% against the US dollar (UUP). This depreciation of the European currency was surprising to a few market participants, as there was no major disappointment in economic data or the ECB guidance. The European central bank or ECB left policy rates unchanged but was upbeat about the economic progress in the euro area.
The euro-US dollar (FXE) exchange rate closed the week ending April 20 at 1.23. The exchange rate depreciated 0.35% against the US dollar (UUP). The US dollar appreciated last week. The euro was stuck by weaker-than-expected economic data and dovish comments from German Bundesbank Chairman Jens Weidmann and European Central Bank Chairman Mario Draghi. Weidmann said that the first quarter growth in Germany wasn’t expected to be good. Draghi said that the Eurozone’s expansion cycle might have peaked.