Equity markets stalled and ultimately ended in shallow red territory for the day as eurozone jitters encouraged profit-taking ahead of today’s interest rate decision overseas. Alan Skrainka, CIO at Cornerstone Wealth Management, commented that the European Central Bank “is going to buy bonds in a big way; they are going to try to contain the crisis in Spain and Italy by buying their bonds.” Tensions could arise as many are expecting German lawmakers to suggest a number of limitations on the proposed bond-buying effort [see also ETF Tools Every Investor Needs]. As such, our ETF to watch for today is the Rydex CurrencyShares Euro Currency Trust (FXE, B-), which could see volatile trading following the ECB’s rate decision. Analysts are expecting that the ECB will cut the benchmark rate from 0.75% down to 0.50%, although the economic commentary issued after the decision itself will likely receive most of the attention throughout the day [see also Gold, Oil Hinge [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Bull Train Stops At Resistance ETF Insider: Flirting With Resistance Is A Risky Game 3 ETFs To Watch This Week: EWG, LBND, FXE Thursday’s ETF Chart To Watch: CurrencyShares Euro Currency Trust (FXE) FXE Is Oversold: Trade The Bounce
Equity markets stalled and ultimately ended in shallow red territory for the day as eurozone jitters encouraged profit-taking ahead of today’s interest rate decision overseas. Alan Skrainka, CIO at Cornerstone Wealth Management, commented that the European Central Bank “is going to buy bonds in a big way; they are going to try to contain the crisis in Spain and Italy by buying their bonds.” Tensions could arise as many are expecting German lawmakers to suggest a number of limitations on the proposed bond-buying effort [see also ETF Tools Every Investor Needs]. As such, our ETF to watch for today is the Rydex CurrencyShares Euro Currency Trust (FXE, B-), which could see volatile trading following the ECB’s rate decision. Analysts are expecting that the ECB will cut the benchmark rate from 0.75% down to 0.50%, although the economic commentary issued after the decision itself will likely receive most of the attention throughout the day [see also Gold, Oil Hinge [...]
Click here to read the original article on ETFdb.com.
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