Invesco CurrencyShares Euro Currency Trust (FXE) 10-Q 11 Sep 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Jul. 31, 2017shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	FXE
Entity Registrant Name	CURRENCYSHARES EURO TRUST
Entity Central Index Key	1,328,598
Current Fiscal Year End Date	--10-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	0

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Jul. 31, 2017	Oct. 31, 2016
Current Assets:
Euro deposits, interest bearing	$ 342,201,608	$ 266,705,058
Euro deposits, non-interest bearing	0	0
Total Current Assets	342,201,608	266,705,058
Current Liabilities:
Redemptions payable	28,495,546
Accrued Sponsor's fee	128,705	75,126
Accrued interest expense	133,902	78,126
Total Current Liabilities	28,758,153	153,252
Commitments and Contingent Liabilities (note 8)
Redeemable Capital Shares, at redemption value, no par value, 137,000,000 and 127,000,000 authorized, respectively - 2,750,000 and 2,500,000 issued and outstanding, respectively	313,443,455	266,551,806
Shareholders' Equity:
Retained Earnings	0	0
Cumulative Translation Adjustment	0	0
Total Liabilities, Redeemable Capital Shares and Shareholders' Equity	$ 342,201,608	$ 266,705,058

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - $ / shares	Jul. 31, 2017	Oct. 31, 2016
Statement of Financial Position [Abstract]
Redeemable Capital Shares, no par value
Redeemable Capital Shares, shares authorized	137,000,000	127,000,000
Redeemable Capital Shares, shares issued	2,750,000	2,500,000
Redeemable Capital Shares, shares outstanding	2,750,000	2,500,000

Statements of Comprehensive Inc

Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Income
Interest Income	$ 0	$ 0	$ 0	$ 0
Total Income	0	0	0	0
Expenses
Sponsor's fee	(309,874)	(270,088)	(741,646)	(1,000,541)
Interest Expense	(320,533)	(278,025)	(761,507)	(751,273)
Total Expenses	(630,407)	(548,113)	(1,503,153)	(1,751,814)
Net Loss	$ (630,407)	$ (548,113)	$ (1,503,153)	$ (1,751,814)
Basic and Diluted Earnings per Share	$ (0.22)	$ (0.22)	$ (0.64)	$ (0.57)
Weighted-average Shares Outstanding	2,826,630	2,473,913	2,350,733	3,099,818
Cash Dividends per Share	$ 0	$ 0	$ 0	$ 0
Other Comprehensive (Loss)/Income:
Currency translation adjustment	$ (28,912)	$ 904	$ (43,863)	$ (10,713)
Total Comprehensive Loss	$ (659,319)	$ (547,209)	$ (1,547,016)	$ (1,762,527)

Statements of Changes in Shareh

Statements of Changes in Shareholders' Equity - USD ($)	Total	Retained Earnings [Member]	Cumulative Translation Adjustment [Member]
Beginning of Period at Oct. 31, 2015		$ 0	$ 0
Net Loss		(2,249,106)
Currency translation adjustment			(2,460)
Adjustment of redeemable capital shares to redemption value		2,249,106	2,460
End of Period at Oct. 31, 2016		0	0
Net Loss	$ (1,503,153)	(1,503,153)
Currency translation adjustment	$ (43,863)		(43,863)
Adjustment of redeemable capital shares to redemption value		1,503,153	43,863
End of Period at Jul. 31, 2017		$ 0	$ 0

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited)	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2017USD ($)	Jul. 31, 2016USD ($)	Jul. 31, 2017USD ($)	Jul. 31, 2016USD ($)	Oct. 31, 2016USD ($)
Cash flows from operating activities
Cash received for accrued income			$ 0	$ 0
Cash paid for expenses			(1,407,108)	(1,704,848)
Net cash used in operating activities			(1,407,108)	(1,704,848)
Cash flows from financing activities
Cash received to purchase redeemable shares			832,272,473	1,050,948,694
Cash paid to redeem redeemable shares			(779,828,591)	(1,072,721,397)
Net cash provided by/(used in) financing activities			52,443,882	(21,772,703)
Adjustment to period cash flows due to currency movement			24,459,776	4,167,824
Increase/(Decrease) in cash			75,496,550	(19,309,727)
Cash at beginning of period			266,705,058	357,376,987	$ 357,376,987
Cash at end of period	$ 342,201,608	$ 338,067,260	342,201,608	338,067,260	$ 266,705,058
Reconciliation of net loss to net cash used in operating activities:
Net Loss	$ (630,407)	$ (548,113)	(1,503,153)	(1,751,814)
Adjustments to reconcile net loss to net cash used in operating activities:
Currency translation adjustment			(13,310)	(6,247)
Accrued sponsor fee			128,705	98,363
Accrued interest expense			133,902	103,796
Prior period accrued sponsor fee			(75,126)	(100,209)
Prior period accrued interest expense			(78,126)	(48,737)
Net cash used in operating activities			$ (1,407,108)	$ (1,704,848)

Organization and Description of

Organization and Description of the Trust	9 Months Ended
	Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of the Trust	1. Organization and Description of the Trust The CurrencyShares ® The investment objective of the Trust is for the Trust’s shares (the “Shares”) to reflect the price in U.S. Dollars (“USD”) of the euro plus accrued interest, if any, less the Trust’s expenses and liabilities. The Shares are intended to provide investors with a simple, cost-effective means of gaining investment benefits similar to those of holding euro. The Trust’s assets primarily consist of euro on demand deposit in two deposit accounts maintained by the Depository: a primary deposit account which may earn interest and a secondary deposit account which does not earn interest. The secondary deposit account is used to account for any interest that may be received and paid out on creations and redemptions of blocks of 50,000 Shares (“Baskets”). The secondary account is also used to account for interest earned, if any, on the primary deposit account, pay Trust expenses and distribute any excess interest to holders of Shares (“Shareholders”) on a monthly basis. The accompanying unaudited financial statements were prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions for Form 10-Q. In the opinion of management, all material adjustments, consisting only of normal recurring adjustments, considered necessary for a fair statement of the interim period financial statements have been made. Interim period results are not necessarily indicative of results for a full-year period. These financial statements and the notes thereto should be read in conjunction with the Trust’s financial statements included in the Form 10-K as filed on January 12, 2017.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies A. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of the assets, liabilities and disclosures of contingent liabilities at the date of the financial statements, the reported amounts of revenue and expenses during the period and the evaluation of subsequent events through the issuance date of the financial statements. Actual results could differ from those estimates. B. Foreign Currency Translation The Trustee calculates the Trust’s net asset value (“NAV”) each business day, as described in Note 4. For NAV calculation purposes, euro deposits (cash) are translated at the Closing Spot Rate, which is the euro/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time / London fixing) on each day that NYSE Arca, Inc. (“NYSE Arca”) is open for regular trading. The functional currency of the Trust is the euro in accordance with generally accepted accounting standards. For financial statement reporting purposes, the U.S. Dollar is the reporting currency. As a result, the financial records of the Trust are translated from euro to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows. Any currency translation adjustment is included in comprehensive income. C. Federal Income Taxes The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata share of the assets held in the Trust. Shareholders also will be treated as if they directly received their respective pro-rata portion of the Trust’s income, if any, and as if they directly incurred their respective pro-rata portion of the Trust’s expenses. The acquisition of Shares by a U.S. Shareholder as part of a creation of a Basket will not be a taxable event to the Shareholder. The Sponsor’s fee accrues daily and is payable monthly. For U.S. federal income tax purposes, an accrual-basis U.S. Shareholder generally will be required to take into account as an expense its allocable portion of the USD-equivalent of the amount of the Sponsor’s fee that is accrued on each day, with such USD-equivalent being determined by the currency exchange rate that is in effect on the respective day. To the extent that the currency exchange rate on the date of payment of the accrued amount of the Sponsor’s fee differs from the currency exchange rate in effect on the day of accrual, the U.S. Shareholder will recognize a currency gain or loss for U.S. federal income tax purposes. The Trust does not expect to generate taxable income except for interest income (if any) and gain (if any) upon the sale of euro. A non-U.S. Shareholder generally will not be subject to U.S. federal income tax with respect to gain recognized upon the sale or other disposition of Shares, or upon the sale of euro by the Trust, unless: (1) the non-U.S. Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United States sources; or (2) the gain is effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States. A non-U.S. Shareholder’s portion of any interest income earned by the Trust generally will not be subject to U.S. federal income tax unless the Shares owned by such non-U.S. Shareholder are effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States. D. Revenue Recognition Interest on the primary deposit account, if any, accrues daily as earned and is received or paid on a monthly basis. Any interest below zero for the period is reflected as interest expense. E. Dividends To the extent that the interest earned by the Trust, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in euro effective on the first business day of the subsequent month. The Trustee will direct that the excess euro be converted into USD at the prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own).

Euro Deposits

Euro Deposits	9 Months Ended
	Jul. 31, 2017
Cash and Cash Equivalents [Abstract]
Euro Deposits	3. Euro Deposits Euro principal deposits are held in a euro-denominated, interest-bearing demand account. The interest rate in effect as of July 31, 2017 was an annual nominal rate of -0.40%. For the nine months ended July 31, 2017, there were euro principal deposits of 765,589,618, euro principal redemptions of 741,516,852 and euro withdrawals (to pay expenses) of 1,294,369, resulting in an ending euro principal balance of 266,077,953. This equates to 313,706,062 USD (which includes USD redemptions payable). For the year ended October 31, 2016, there were euro principal deposits of 1,080,489,764, euro principal redemptions of 1,158,683,985 and euro withdrawals (to pay expenses) of 2,026,744, resulting in an ending euro principal balance of 243,299,556. This equates to 266,705,058 USD. Net interest, if any, associated with creation and redemption activity is held in a euro-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.

Redeemable Capital Shares

Redeemable Capital Shares	9 Months Ended
	Jul. 31, 2017
Equity [Abstract]
Redeemable Capital Shares	4. Redeemable Capital Shares Shares are classified as “redeemable” for financial statement purposes, since they are subject to redemption. Shares are issued and redeemed continuously in Baskets in exchange for euro. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. Only Authorized Participants (as defined below) may place orders to create and redeem Baskets. An Authorized Participant is a Depository Trust Company (“DTC”) participant that is a registered broker-dealer or other institution eligible to settle securities transactions through the book-entry facilities of the DTC and which has entered into a contractual arrangement with the Trust and the Sponsor governing, among other matters, the creation and redemption process. Authorized Participants may redeem their Shares at any time in Baskets. Due to expected continuing creations and redemptions of Baskets and the three-day period for settlement of each creation or redemption, the Trust reflects Shares created as a receivable on the trade date. Shares redeemed are reflected as a liability on the trade date. Outstanding Shares are reflected at a redemption value, which is the NAV per Share at the period end date. Adjustments to redeemable capital Shares at redemption value are recorded against retained earnings or, in the absence of retained earnings, by charges against the cumulative translation adjustment. Activity in redeemable capital Shares is as follows: Nine months ended July 31, 2017 Year ended (Unaudited) October 31, 2016 U.S. Dollar U.S. Dollar Shares Amount Shares Amount Opening Balance 2,500,000 $ 266,551,806 3,300,000 $ 357,228,041 Shares Issued 7,900,000 832,272,473 11,050,000 1,198,371,197 Shares Redeemed (7,650,000 ) (806,102,970 ) (11,850,000 ) (1,285,096,408 ) Adjustment to period Shares due to currency movement and other — 20,722,146 — (3,951,024 ) Ending Balance 2,750,000 $ 313,443,455 2,500,000 $ 266,551,806

Sponsor's Fee

Sponsor's Fee	9 Months Ended
	Jul. 31, 2017
Payables and Accruals [Abstract]
Sponsor's Fee	5. Sponsor’s Fee The Sponsor’s fee accrues daily at an annual nominal rate of 0.40% of the euro in the Trust (including all unpaid interest but excluding unpaid fees, each as accrued through the immediately preceding day) and is paid monthly. The Sponsor assumes and pays the following administrative and marketing expenses incurred by the Trust: the Trustee’s monthly fee, NYSE Arca listing fees, SEC registration fees, typical maintenance and transaction fees of the Depository, printing and mailing costs, audit fees and expenses, up to $100,000 per year in legal fees and expenses, and applicable license fees. In certain exceptional cases the Trust will pay for some expenses in addition to the Sponsor’s fee. These exceptions include expenses not assumed by the Sponsor (i.e., expenses other than those identified in the preceding paragraph), expenses resulting from a negative interest rate, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Trustee or the Sponsor on behalf of the Trust or action taken by the Trustee or the Sponsor to protect the Trust or the interests of Shareholders, indemnification of the Sponsor under the Depositary Trust Agreement, audit fees and legal expenses in excess of $100,000 per year.

Related Parties

Related Parties	9 Months Ended
	Jul. 31, 2017
Related Party Transactions [Abstract]
Related Parties	6. Related Parties The Sponsor is a related party of the Trust. The Sponsor oversees the performance of the Trustee and the Trust’s principal service providers, including the preparation of financial statements, but does not exercise day-to-day oversight over the Trustee or the Trust’s service providers.

Concentration Risk

Concentration Risk	9 Months Ended
	Jul. 31, 2017
Risks and Uncertainties [Abstract]
Concentration Risk	7. Concentration Risk All of the Trust’s assets are euro, which creates a concentration risk associated with fluctuations in the price of euro. Accordingly, a decline in the euro to USD exchange rate will have an adverse effect on the value of the Shares. Factors that may have the effect of causing a decline in the price of euro include national debt levels and trade deficits, domestic and foreign inflation rates, domestic and foreign interest rates, investment and trading activities of institutions and global or regional political, economic or financial events and situations. The price of euro has fluctuated widely over the past several years, and volatility has increased in recent months due, in part, to concern over the sovereign debt levels of certain European Union members and the potential impact of this debt on the composition of the European Union members and the value of the euro. Substantial sales of euro by the official sector (central banks, other governmental agencies and related institutions that buy, sell and hold euro as part of their reserve assets) could adversely affect an investment in the Shares. All of the Trust’s euro are held by the Depository. Accordingly, a risk associated with the concentration of the Trust’s assets in accounts held by a single financial institution exists and increases the potential for loss by the Trust and the Trust’s beneficiaries in the event that the Depository becomes insolvent.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Under the Trust’s organizational documents, the Sponsor is indemnified against any liability or expense it incurs without negligence, bad faith or willful misconduct on its part. The Trust’s maximum exposure under this arrangement is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred.

Significant Accounting Polici15

Significant Accounting Policies (Policies)	9 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Use of Estimates	A. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of the assets, liabilities and disclosures of contingent liabilities at the date of the financial statements, the reported amounts of revenue and expenses during the period and the evaluation of subsequent events through the issuance date of the financial statements. Actual results could differ from those estimates.
Foreign Currency Translation	B. Foreign Currency Translation The Trustee calculates the Trust’s net asset value (“NAV”) each business day, as described in Note 4. For NAV calculation purposes, euro deposits (cash) are translated at the Closing Spot Rate, which is the euro/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time / London fixing) on each day that NYSE Arca, Inc. (“NYSE Arca”) is open for regular trading. The functional currency of the Trust is the euro in accordance with generally accepted accounting standards. For financial statement reporting purposes, the U.S. Dollar is the reporting currency. As a result, the financial records of the Trust are translated from euro to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows. Any currency translation adjustment is included in comprehensive income.
Federal Income Taxes	C. Federal Income Taxes The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata share of the assets held in the Trust. Shareholders also will be treated as if they directly received their respective pro-rata portion of the Trust’s income, if any, and as if they directly incurred their respective pro-rata portion of the Trust’s expenses. The acquisition of Shares by a U.S. Shareholder as part of a creation of a Basket will not be a taxable event to the Shareholder. The Sponsor’s fee accrues daily and is payable monthly. For U.S. federal income tax purposes, an accrual-basis U.S. Shareholder generally will be required to take into account as an expense its allocable portion of the USD-equivalent of the amount of the Sponsor’s fee that is accrued on each day, with such USD-equivalent being determined by the currency exchange rate that is in effect on the respective day. To the extent that the currency exchange rate on the date of payment of the accrued amount of the Sponsor’s fee differs from the currency exchange rate in effect on the day of accrual, the U.S. Shareholder will recognize a currency gain or loss for U.S. federal income tax purposes. The Trust does not expect to generate taxable income except for interest income (if any) and gain (if any) upon the sale of euro. A non-U.S. Shareholder generally will not be subject to U.S. federal income tax with respect to gain recognized upon the sale or other disposition of Shares, or upon the sale of euro by the Trust, unless: (1) the non-U.S. Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United States sources; or (2) the gain is effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States. A non-U.S. Shareholder’s portion of any interest income earned by the Trust generally will not be subject to U.S. federal income tax unless the Shares owned by such non-U.S. Shareholder are effectively connected with the conduct by the non-U.S. Shareholder of a trade or business in the United States.
Revenue Recognition	D. Revenue Recognition Interest on the primary deposit account, if any, accrues daily as earned and is received or paid on a monthly basis. Any interest below zero for the period is reflected as interest expense.
Dividends	E. Dividends To the extent that the interest earned by the Trust, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in euro effective on the first business day of the subsequent month. The Trustee will direct that the excess euro be converted into USD at the prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own).

Redeemable Capital Shares (Tabl

Redeemable Capital Shares (Tables)	9 Months Ended
	Jul. 31, 2017
Equity [Abstract]
Schedule for Redeemable Capital Shares Activity	Activity in redeemable capital Shares is as follows: Nine months ended July 31, 2017 Year ended (Unaudited) October 31, 2016 U.S. Dollar U.S. Dollar Shares Amount Shares Amount Opening Balance 2,500,000 $ 266,551,806 3,300,000 $ 357,228,041 Shares Issued 7,900,000 832,272,473 11,050,000 1,198,371,197 Shares Redeemed (7,650,000 ) (806,102,970 ) (11,850,000 ) (1,285,096,408 ) Adjustment to period Shares due to currency movement and other — 20,722,146 — (3,951,024 ) Ending Balance 2,750,000 $ 313,443,455 2,500,000 $ 266,551,806

Organization and Description 17

Organization and Description of the Trust - Additional Information (Detail)	9 Months Ended
	Jul. 31, 2017EUR (€)Depositorshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization formation date	Dec. 5, 2005
Initial deposits by Sponsor, Primary deposit account | €	€ 100
Number of deposits accounts in which trust's assets primarily consist of Euros | Depositor	2
Redemptions Capital Shares, Number of shares in each Block | shares	50,000

Significant Accounting Polici18

Significant Accounting Policies - Additional Information (Detail)	9 Months Ended
	Jul. 31, 2017USD ($)
Accounting Policies [Abstract]
Provision for federal income taxes	$ 0
Minimum days required to stay for tax liability	183 days

Euro Deposits - Additional Info

Euro Deposits - Additional Information (Detail)	9 Months Ended			12 Months Ended
	Jul. 31, 2017USD ($)	Jul. 31, 2017EUR (€)	Jul. 31, 2016USD ($)	Oct. 31, 2016EUR (€)	Jul. 31, 2017EUR (€)	Oct. 31, 2016USD ($)	Oct. 31, 2016EUR (€)
Cash and Cash Equivalents [Abstract]
Annual nominal rate	(0.40%)	(0.40%)
Principal deposits	$ 832,272,473	€ 765,589,618	$ 1,050,948,694	€ 1,080,489,764
Principal redemptions	779,828,591	741,516,852	1,072,721,397	1,158,683,985
Withdrawals (to pay expenses)	1,407,108	€ 1,294,369	$ 1,704,848	€ 2,026,744
Deposits, interest bearing	$ 313,706,062				€ 266,077,953	$ 266,705,058	€ 243,299,556

Redeemable Capital Shares - Add

Redeemable Capital Shares - Additional Information (Detail)	9 Months Ended
	Jul. 31, 2017
Temporary Equity Disclosure [Abstract]
Redeemable Capital Shares, Settlement of each creation or redemption period	3 days

Redeemable Capital Shares - Sch

Redeemable Capital Shares - Schedule for Redeemable Capital Shares Activity (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Jul. 31, 2017	Oct. 31, 2016
Temporary Equity Disclosure [Abstract]
Opening Balance, Shares	2,500,000	3,300,000
Shares Issued, Shares	7,900,000	11,050,000
Shares Redeemed, Shares	(7,650,000)	(11,850,000)
Ending Balance, Shares	2,750,000	2,500,000
Opening Balance, Amount	$ 266,551,806	$ 357,228,041
Shares Issued, Amount	832,272,473	1,198,371,197
Shares Redeemed, Amount	(806,102,970)	(1,285,096,408)
Adjustment to period Shares due to currency movement and other, Amount	20,722,146	(3,951,024)
Ending Balance, Amount	$ 313,443,455	$ 266,551,806

Sponsor's Fee - Additional Info

Sponsor's Fee - Additional Information (Detail) - Sponsor [Member]	9 Months Ended
	Jul. 31, 2017USD ($)
Accrued Professional Fees [Member]
Related Party Transaction [Line Items]
Sponsor's fee accrues daily and paid monthly, annual nominal Rate	0.40%
Professional Fees Liability [Member]
Related Party Transaction [Line Items]
Legal fees and expenses assumed	$ 100,000
Excess amount of assumed audit fees and legal expenses	$ 100,000