Dollar ETFs Face Eleven Month Low on Weak Economy
Currency ETFs are not the most popular exchange-traded funds due to their less than volatile temperament. However, recent volatility in the US dollar is motivating investors into buying non-American denominated ETF currency funds. The US dollar now treads on an 11-month low after breaking through many important and longstanding support and resistance lines, according to [...]
Pound Enjoys Lift from Improving Global Sentiment
The British Pound continues its improvement against the US dollar, striking a multi-month high against the greenback. Investors, who are sensing the worst of the recession is over, are plowing money back into the UK economy, which hinges heavily on the banking sector as its biggest commodity. The Pound fell as low as $1.35 Dollars [...]
U.S. Dollar Losing Foothold as Universal Currency
Now that risk-aversion is horribly unprofitable, investors are finding themselves capable of handling riskier investments. Currencies are back in vogue as investors look for ways to profit on the changing foreign-exchange marketplace. The Federal Reserve has indicated that it may expand its $1.75 trillion quantitative easing program to add additional liquidity to the financial markets. [...]
Treasuries Probe Higher on Fed Intervention
Investors pushed treasuries back into positive territory on word that the Federal Reserve may soon start buying long-dated treasuries in an effort to lower government borrowing costs. The yield, which trades inversely to the price of the debt, has fallen to 3.7% on 30 year bonds; however, long term borrowing costs are still considerably higher [...]
CurrencyShares Exchange Traded Products Declare Monthly Distributions
Rydex Investments today announced the distribution declarations for seven CurrencyShares exchange traded products: CurrencyShares Australian Dollar Trust (NYSE: FXA), CurrencyShares British Pound Sterling Trust (NYSE: FXB), CurrencyShares Canadian Dollar Trust (NYSE: FXC), CurrencyShares Euro Trust (NYSE: FXE), CurrencyShares Mexican Peso Trust (NYSE: FXM), CurrencyShares Russian Ruble Trust (NYSE: XRU), and CurrencyShares Swedish Krona Trust (NYSE: [...]
Rydex Extends Monthly Distribution on CurrencyShare ETFs
Seven of the CurrencyShares-brand ETFs from Rydex Investments have announced a monthly distribution for December. The exchange-traded products track currency of various countries around the world on the NYSE, and the payable date will be December 8, 2008. According to the Rydex Investment press release, the scheduled distributions will range from $0.092 for CurrencyShares Canadian [...]
Access to Russian Currency Now Afforded by New Rydex ETF
Rydex has expanded its collection of eight CurrencyShares ETFs with the launch of a new product to track Russian currency. According to the Market Wire press release, CurrencyShares Russian Ruble Trust (XRU: Quote, Profile, Advanced Chart, News) provides the first currency exposure to the Russian economy and has just begun trading 1,000 Rubles per share [...]
Two European Currency ETFs Taking a Pounding
In a recent speech by Bank of England Gov., Mervyn King, he declared the U.K. economy to be “entering a recession.” As a result of this market turmoil, currencies have been under significant pressure with rate cuts projected in the near future. Peter Scullion, Nomura International currency analyst, reported in the Forbes article that there [...]
