Seeking Alpha

InTheMoneyStocks'  Instablog

InTheMoneyStocks
Send Message
InTheMoneyStocks.com is a proprietary research, consulting and investment alerts company focused on guiding investors, swing traders and day traders to financial success. Their PPT Methodology is a proprietary blend of price, pattern and time discoveries that has helped produce 216.37% net... More
My company:
InTheMoneyStocks.com
My blog:
Rant & Rave - Pro Traders Blog
  • Weak U.S. Dollar Index Lifts The Metals 0 comments
    Jun 3, 2013 10:55 AM | about stocks: JJC

    This morning, many of the leading base, industrial, and precious metals are catching a bid higher on the back of a weaker U.S. Dollar Index. Around 10:00 AM EST, the U.S. Dollar Index plunged lower on the trading session. The catalyst for the weaker U.S. Dollar Index was due to the ISM (Institute for Supply Management Index) news that was released. The ISM reading was 49.0 percent in May from 50.7% in April. This news makes investors confident that the Federal Reserve will continue its current quantitative easing program. Currently, the Federal Reserve buys $85 billion a month worth or mortgage backed securities (MBS) and U.S. Treasuries.

    Some leading metal related equities that are trading higher on the back of the weaker U.S. Dollar Index include iPath DJ-UBS Copper TR Sub-Index ETN (NYSEARCA:JJC), BHP Billiton Limited (NYSE:BHP), SPDR Gold Shares (NYSEARCA:GLD), and Silver Wheaton Corp. (NYSE:SLW). Remember, the stronger U.S. Dollar has certainly hurt all of the leading base, and precious metal equities. Any intra-day strength in the U.S. Dollar Index could cause a pullback in the leading metal equities. The U.S. Dollar affects almost everything in the market.

    Nicholas Santiago
    InTheMoneyStocks.com

    (click to enlarge)

    Stocks: JJC
Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.