US Dollar ETFs like the PowerShares DB US Dollar Index Bullish Fund ETF (NYSEARCA:UUP) dropped today compared to the Euro, as mixed US economic reports and a new, better European debt firewall boosted the Euro against the US dollar. Naturally, the CurrencyShares Euro Trust ETF (NYSEARCA:FXE) rose .31%.
The Australian Dollar ETF (NYSEARCA:FXA) and the Japanese Yen ETF (NYSEARCA:FXY) lost .19% and .45% respectively.
Currency ETF Update:
US Dollar Index – Cash Settle EOD: -.73%
PowerShares DB US Dollar Index Bullish Fund ETF (NYSEARCA:UUP): -.14%, This ETF reflects US dollar performance as indicated by the Deutsche Bank Long US Dollar Index (USDX) Futures Index (DB Long USD Futures Index). The USDX Index invests solely in Long USDX Futures Contracts, and compares the performance of the US dollar against the Japanese Yen, the Euro, the Swiss Franc, the British Pound, the Canadian Dollar, and the Swedish Krona.
Euro Dollar Index-Philadelphia: +.31%
CurrencyShares Euro Trust ETF (NYSEARCA:FXE): +.31%, This ETF is designed to track the performance of the Euro dollar. CurrencyShares Euro Trust ETF (NYSEARCA:FXE) is a trust denominated in Euro dollars, and the depository bank is JP Morgan Chase Bank, N.A. London Branch.
ProShares UltraShort Euro ETF (NYSEARCA:EUO): -.68%, This ETF tracks the 2X inverse daily performance of the Euro dollar in US dollar prices. The ProShares UltraShort Euro ETF (NYSEARCA:EUO) relies on the EUR/USD cross rate as determined by Reuters by 4 PM EST to determine the price of the Euro in US dollars.
Australian Dollar Index-Philadelphia: +.02%
CurrencyShares Australian Dollar Trust ETF (NYSEARCA:FXA): -.19%, This ETF is designed to track the performance of the Australian dollar. The CurrencyShares Australian Dollar Trust ETF (NYSEARCA:FXA) is a trust denominated in Australian dollars, and the depository bank is JP Morgan Chase Bank, N.A. London Branch.
Japanese Yen Index–Philadelphia: -.52%
CurrencyShares Japanese Yen Trust ETF (NYSEARCA:FXY): -.45%, This ETF is designed to track the performance of the Japanese Yen. The CurrencyShares Japanese Yen Trust ETF (NYSEARCA:FXY) is a trust denominated in Japanese Yen, and the depository bank is JP Morgan Chase Bank, N.A. London Branch.
Bottom Line: US dollar ETFs lost today against Euro dollar ETFs as mixed US economic reports and the increased Eurozone debt protection firewall bolstered the Euro dollar. If Europe and the United States continue to recover, we could see higher prices out of the currencies; conversely if Europe explodes the US dollar will reign king once more.
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