ETF Outlook for Tuesday, May 13, 2014:
Rydex CurrencyShares Euro ETF (NYSE: FXE)
The value of the euro continues its weeklong slide after worse than expected economic data out of Germany. The data opened the door to more stimulus in Europe just a little more and that has traders selling the euro in favor of the U.S. dollar.
FXE closed at the lowest level in five weeks on Monday and the level to watch this morning is $135.31; a close below there would signal a more significant technical breakdown.
PowerShares Dynamic Media ETF (NYSE: PBS)
The ETF’s largest holding is on the move Tuesday morning after new that it may be the target of a takeover by AT&T (NYSE: T). DirecTV (NYSE: DTV) is rally five percent this morning after the news hit the wires after the ...
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