|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||117.91 - 118.27|
|52 Week Range||102.55 - 120.65|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
The euro-dollar (FXE) exchange rate closed the week ending March 2, 2018, at 1.23. The major factors that drove the euro in the previous week were the election and political uncertainty in Italy and Germany. Over the weekend, Italy had a hung parliament verdict.
The US Dollar Index closed the previous week with minor gains, but the index suffered after the announcement about tariffs last week. Historically, US tariffs on imports have been negative for the US dollar. If the current proposal becomes a law, the US dollar could have a similar fate.
The US Dollar Index returned to strength as risk appetite remained stable and the FOMC minutes signaled further tightening through interest rate hikes. Higher interest rates in the US could lead to the appreciation of the US dollar against its trading partners. The other reason for the US dollar’s appreciation is the weakness in the euro, which was triggered by the dovish statement from the European Central Bank.
Is Volatility Set to Drop Further after Stock Market Rebound? The US Dollar Index, whose slide had been stalled in the past two weeks, saw losses as markets recovered last week. Better-than-expected inflation growth should have increased the demand for the US dollar, but the surprise reaction of equity markets was also seen in the forex markets with the US dollar sliding against the major currencies.
The euro was the best-performing currency among the G7 (Group of Seven) currencies. Most of them fell against the US dollar, which rebounded on the back of improved inflation expectations in the United States and a round of profit booking among currency traders. European equity markets (VGK), along with their global peers, moved lower last week.
Isn’t money supply better controlled by an established, trusted source? This transparency alone brings incredible value compared to fiat currencies. In the prevalent centralized economic system, there is no limit on the amount of money (UUP) (FXE) issued by central banks.
This is due to the fact that we believe bitcoin exposure of financial institutions is limited to market-making and trading firms. A disruption in those markets would directly affect the financial system and stock and bond markets. The price of bitcoin (SOXL) (SOXX) has risen 69,278.6% over the last five years.
The vast majority of digital currencies leave traceable data-crumbs on the web, with some explicitly designed for traceability. The recent dark market busts (AlphaBay, Hansa, and Silk Road) can be directly tied back to the traceability of digital currencies and the breadcrumbs criminals left. Digital currencies (UUP) (FXE) such as bitcoin, Ethereum, and others are fully traceable.
The euro–dollar (FXE) pair closed 2017 at 1.1998. It appreciated by 13% against the US dollar and posted close to 10% gains against the other major global currencies.
CNBC's Dominic Chu takes a look at U.S. dollar-tracking ETFs in the wake of comments about the currency from Treasury Secretary Steven Mnuchin and President Trump while at Davos.