September 12, 2012 at 04:00 AM EDT
Wednesday’s ETF Chart To Watch: CurrencyShares Euro Currency Trust (FXE)
Major equity indexes advanced slightly higher amid continuing speculation that the Fed will offer up another round of quantitative easing at Thursday’s FOMC press conference. Stimulus hopes have been bolstering stocks higher ever since the ECB went ahead and announced its bond-buying initiative, which has ultimately put tremendous pressures on the Fed to follow in their footsteps. In light of the current backdrop, it seems that the QE 3 announcement has been “priced in” so to say, and as such, anything short of affirmation during Bernanke’s speech on Thursday will likely leave investors with a sour feeling and spark a sell-off [see also Roubini Bets On QE3]. Ahead of the FOMC rate decision, investors will have to digest another pivotal development taking place overseas. With German courts slated to make a ruling on the proposed European Stability Mechanism later today, our ETF to watch is the Rydex CurrencyShares Euro Currency Trust (FXE, B-). [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Pressure On Fed To Follow Thursday’s ETF Chart To Watch: CurrencyShares Euro Currency Trust (FXE) 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
Major equity indexes advanced slightly higher amid continuing speculation that the Fed will offer up another round of quantitative easing at Thursday’s FOMC press conference. Stimulus hopes have been bolstering stocks higher ever since the ECB went ahead and announced its bond-buying initiative, which has ultimately put tremendous pressures on the Fed to follow in their footsteps. In light of the current backdrop, it seems that the QE 3 announcement has been “priced in” so to say, and as such, anything short of affirmation during Bernanke’s speech on Thursday will likely leave investors with a sour feeling and spark a sell-off [see also Roubini Bets On QE3]. Ahead of the FOMC rate decision, investors will have to digest another pivotal development taking place overseas. With German courts slated to make a ruling on the proposed European Stability Mechanism later today, our ETF to watch is the Rydex CurrencyShares Euro Currency Trust (FXE, B-). [...]

Click here to read the original article on ETFdb.com.

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