Notable ETF Movers of the Day 02/24: (FXE) (XME) (USO) Higher; (UNG) (GDX) Lower

• Rydex CurrencyShares Euro Trust (NYSE: FXE) up 0.70 percent to $134.07. The euro gained against the U.S. dollar Friday as Germany reported better-than-expected business confidence numbers. Germany's lfo institute said its business climate index rose from 108.3 in January to 109.6. Likewise, the UofMich Consumer Confidence index for the States moved from 72.5 to 75.3, beating expectations of 73.0. Though confidence is high in both markets, continued low rates in the U.S. are hampering the U.S. dollar and investors aren't in it for charity. Ceteris paribus, they're going to opt for the better rate.
  
  
• SPDR S&P Metals & Mining ETF (NYSE: XME) up 0.81 percent to $64.31. The ETF being led by Allied Nevada Gold (NYSE: ANV), which said its infill program at Hycroft, along with additional engineering studies, successfully upgraded 2.5 million ounces of gold and 93.3 million ounces of silver to the proven and probable mineral reserve categories. Total proven and probable mineral reserves on December 31, 2011 were 12.7 million ounces of gold and 481.9 million ounces of silver, representing a 24 percent increase to both gold and silver contained ounces compared with the June 30, 2011 reserve estimate.
  
  
• United States Oil Fund (NYSE: USO) up 0.17 percent to $41.44. Crude prices continue to climb on increasing tensions in the Middle East. Or, as one Jefferies Bache analyst put it, the supportive factors are on the supply side, and those are "Iran and Iran and Iran, with a bit of Syria and Sudan." Crude April contracts are trading $0.42 higher to $108.25 per barrel on the Comex.

• United States Natural Gas Fund (NYSE: UNG) down 2.70 percent to $21.26. Nat gas stockpiles are so high that not even nuclear plant outages and production cuts by come of the major producers can shake the slump. Add to that a warmer than normal winter and nat gas prices continue to get hit. April nat gas futures are trading $.076 lower to $2.685 per mmBtu on the Comex.
  
  
• Market Vectors Gold Miners ETF (NYSE: GDX) down 0.63 percent to $56.90. Gold prices are lower today, but the ETF is seeing a little extra pressure from Newmont Mining (NYSE: NEM), which earlier reported fourth-quarter adjusted earnings of $1.17 per share, missing views by about 10 cents per share. Newmont is down 2 percent on Friday's session.

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