Re: european stocks and the dollar
If you buy Siemens ADR (ticker: SI) on an American exchange at the time when the exchange rate is, say, 1 euro = 1.20 dollars, and then dollar weakens 10% to 1 euro = 1.32 dollars, then assuming Siemens's price stayed constant in terms of the euro, it will be worth 10% more in dollar terms.
So, to put it simply, foreign stocks appreciate in terms of dollar when the dollar weakens and depreciate in terms of dollar when dollar strengthens.
Of course it should also be said that a big move in dollar weakness or strength is likely to affect foreign companies in less direct ways, especially if a big chunk of their revenues comes from trade with US.
We come in the spirit of hostility and menace