Currency ETF's show movement in who is top and who is bottom of the table
11/19/2010 0 comments
Currencies provide insight into how a nation is dealing with the current crisis and the strength of the underlying economies. We are tracking the ETF's that represent eleven different currencies and one basket of currencies.
More details are available on the MyPlanIQ website.
|
Description |
Symbol |
15-Nov |
Direction |
8-Nov |
|
Australia Dollar |
FXA |
6% |
v |
9% |
|
Japanese Yen |
FXY |
4% |
v |
5% |
|
Swiss Franc |
FXF |
4% |
v |
6% |
|
Brazilian Real |
BZF |
3% |
v |
6% |
|
Swedish Krona |
FXS |
3% |
v |
6% |
|
Mexican Peso |
FXM |
3% |
v |
5% |
|
British Pound |
FXB |
2% |
^ |
2% |
|
Canadian Dollar |
FXC |
2% |
v |
3% |
|
US Dollar Bearish |
UDN |
2% |
v |
3% |
|
Euro |
FXE |
1% |
v |
2% |
|
G10 Carry Trade |
DBV |
1% |
v |
3% |
|
Chinese Yuan |
CYB |
1% |
v |
1% |
The Australian Dollar stays top as it is less impacted by QE2 and its fallout.
The Mexican Peso and Brazilian Real drop out of the top three being replaced by the Swiss Franc and Japanese yen. Both Japan and Switzerland are more stable currencies that are less directly influenced by US fluctuations.
The bottom three have also changed. The Euro remains at the bottom as worries about currency members (including Ireland) weigh on the currency. The very recent news of a solution for Ireland will create a spike.
The British pound moves out of the bottom -- perhaps by refusing to participate in its own QE2 (at least for now) but long term prospects are still equivocal.
China has its own challenges with the value of the Yuan and, like the other developing nations, are very dependent on the US.
There has been talk about the possibility of a currency war and that is going to cause turbulence in currency markets.
This will continue to be volatile as financial pressure along with domestic politics will cause a variety of paths to be followed by each sovereign nation.
labels:investment,
Symbols:FXA,FXM,BZF,FXY,FXC,FXF,FXS,DBV,CYB,UDN,FXB,FXE,
comments 0
Or Start FREE 30-day trial now >>
