USD Beats Commodities with Ugly Stick (UUP) (UDN)
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Crude oil, gold, silver, platinum, copper – pretty much all the commodities futures are getting smacked down again today. The breakdown today is related to a rise in the price of the USD. The USD index is near yearly highs and testing resistance below $82. If resistance holds, traders foresee a rebound in commodities, but a breakout might signal more fuel to test higher.
One of the major factors contributing to the rise in the dollar index is the headlines out Europe. Overall it is becoming obvious, considering record low bond yields, that international investors think the U.S. is the least ugly place to invest.
The dollar index can be traded using the ETF PowerShares DB US Dollar Index Bullish (NYSE: UUP). Alternatively, if you think the run-up in the dollar is over you can get PowerShares DB US Dollar Index Bearish (NYSE: UDN).
One of the major factors contributing to the rise in the dollar index is the headlines out Europe. Overall it is becoming obvious, considering record low bond yields, that international investors think the U.S. is the least ugly place to invest.
The dollar index can be traded using the ETF PowerShares DB US Dollar Index Bullish (NYSE: UUP). Alternatively, if you think the run-up in the dollar is over you can get PowerShares DB US Dollar Index Bearish (NYSE: UDN).
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