IN: U.S. Dollar Index Retreats From The High Saving The Open
This morning the U.S. Dollar Index surged higher into the 8:00 am EST time frame. The Euro was selling off earlier along with the stock index futures as the dollar traded higher. Since that time the dollar has pulled back and the stock index futures have recovered. When and if the dollar trades lower this will help to inflate the stock market as commodities will inflate. However, should the dollar rise this market is likely to be under pressure.
This morning the SPDR Gold Shares are trading higher by $1.13 to $116.36. Spot gold is higher today by 12.00 points to $1188.00
The United States Oil Fund (NYSE:USO) is trading higher by $0.23 to $32.28. Spot crude is higher by $0.53 cents to $70.57.
Traders and investors that want to trade the U.S. Dollar index to the long side can use the PowerShares DB US Dollar Index Bullish (NYSE:UUP). For the traders and investors that would like to trade the dollar to the downside or short the currency can use the PowerShares DB US Dollar Index Bearish (NYSE:UDN).
