PowerShares DB USD Bear ETF (UDN) - NYSEARCA
  • Today, 3:04 AM
    • Just two months before the yuan is to be included in the IMF's Special Drawing Rights basket for the first time, the fund's board has adopted a new methodology for calculating the amounts of its global reserve currencies.
    • New weightings of the dollar, euro, yen and pound will be set on Sept. 30 and fixed for five years, pushing the yuan a step closer to being freely usable internationally.
    • ETFs: FXE, UUP, EUO, FXY, YCS, UDN, CYB, ERO, CNY, JYN, USDU, DRR, ULE, EUFX, FXCH, YCL, URR
    | Today, 3:04 AM | 2 Comments
  • Wed, Jul. 20, 5:11 AM
    • The greenback is at a four-month high against a basket of currencies, bolstered by strong U.S. data and growing expectations the Fed may raise rates before the end of the year.
    • The dollar index is up 0.2% at 97.271, its highest level since March 10.
    • Fed funds futures rates now suggest a 40% chance of a rate hike in December, compared with less than 20% a few weeks ago.
    • ETFs: UUP, UDN, USDU
    | Wed, Jul. 20, 5:11 AM | 2 Comments
  • Fri, Jun. 24, 8:09 AM
    • The pound (NYSEARCA:FXB) is lower by 8.15% vs. the dollar to $1.3667. It's the lowest level in more than 20 years. It had sunk as low as $1.32 overnight.
    • The euro (NYSEARCA:FXE) is down 3% to $1.1045, the loonie (NYSEARCA:FXC1.8%, the aussie (NYSEARCA:FXA2.5%, and the Swiss franc (NYSEARCA:FXF2%.
    • Stronger vs. the dollar is the yen (NYSEARCA:FXY), up 3.5%.
    • UUP +2.7%, UDN -3% premarket
    • Previously: Futures down sharply as Europe crashes post-Brexit (June 24)
    | Fri, Jun. 24, 8:09 AM | 1 Comment
  • Fri, Jun. 3, 8:56 AM
    • Roughed-up by the steady hawkish talk out of the Fed in May, gold (NYSEARCA:GLD) has added about $20 per ounce to $1,234 since the 8:30 ET news of just 38K jobs being added last month (along with big downward revisions to April and March).
    • The dollar (UUP, UDN), unsurprisingly, is headed in the opposite direction, currently lower by 1%. Particularly strong vs. the greenback are the euro (NYSEARCA:FXE), yen (NYSEARCA:FXY), loonie (NYSEARCA:FXC), and pound (NYSEARCA:FXB).
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Fri, Jun. 3, 8:56 AM | 37 Comments
  • Fri, May 20, 6:30 AM
    • The dollar is cruising to its third straight week of gains as stock and commodity markets show signs that they might be able to manage another U.S. interest rate hike in the coming months.
    • With risk appetite gradually returning following a bumpy few days, U.S. futures are edging back into the green.
    • "The question for traders now is whether this Fed rate hike issue is a 'risk-on' or a 'risk-off' situation," said Saxo Bank FX strategist John Hardy.
    • ETFs: UUP, UDN, USDU
    | Fri, May 20, 6:30 AM | 3 Comments
  • Wed, May 18, 2:18 PM
    • Minutes from the FOMC's April 26-27 meeting surprised markets, with "most" on the committee expecting the Fed's next rate hike to come in June.
    • Yields, especially at the short end, are spiking, and Fed Funds futures now see about a one-in-three chance of a June move (up from about 1-in-20 at the start of the week).
    • The dollar (UUP, UDN) has moved sizably higher since the news, now up 0.4% on the session. Gold (NYSEARCA:GLD), meanwhile, has added to losses, now down 0.8% to $1,267 per ounce.
    • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX
    | Wed, May 18, 2:18 PM | 26 Comments
  • Wed, May 11, 6:29 AM
    • The dollar is stumbling again, succumbing to a bout of profit-taking as U.S. futures point to a fall of around a third of a percent on Wall Street.
    • The move comes after Goldman Sachs called the greenback's bottom (again), stating it "remains dollar bullish and thinks the trajectory is higher from here."
    • U.S. Dollar Index -0.2% to 94.05, easing back from Tuesday's two-week high of 94.15.
    • ETFs: UUP, UDN, USDU
    | Wed, May 11, 6:29 AM
  • Tue, May 10, 3:05 PM
    • Speaking generally, Goldman for some time now has been more bullish on the economy than most, and thus seen a faster pace of rate hikes than most. As a result, the bank has tended to be long and wrong on the dollar.
    • At heart of today's bullish call on the greenback is the currency team's belief that markets are underestimating how fast monetary policy might tighten. Short-term rate markets have all but eliminated the chance of a rate hike in June, and are pricing in little more than a 50% chance of a move at any point in 2016.
    • Chief currency strategist Robin Brooks tells Bloomberg the market reaction on Friday was telling: In response to a weak jobs number, the dollar actually rose. In fact, the greenback has been bouncing nicely for all of May, but the move is just a blip on the sizable downtrend started last December around the time of the Fed's first, and so far only, rate hike this cycle.
    • ETFs: UUP, UDN, USDU
    | Tue, May 10, 3:05 PM | 4 Comments
  • Fri, May 6, 8:47 AM
    • U.S. stock index futures have about doubled losses since April's jobs report, with the S&P 500 (NYSEARCA:SPY) and Nasdaq 100 (NASDAQ:QQQdown 0.55%, and DJIA (NYSEARCA:DIAdown 0.5%.
    • 160K jobs were added in April vs. expectations for 202K. The unemployment rate held steady at 5% as the labor force participation rate fell to 62.8% from 63%.
    • The 10-year Treasury yield is lower by 2.5 basis points to 1.72%. TLT +0.3%, TBT -0.6%.
    • The dollar (UUP, UDN) is all over the place - knee-jerking sharply lower as the numbers hit at 8:30, but now back to where it was prior to the report, down marginally on the session.
    • Previously: Jobs disappoint; UE rate steady thanks to dip in labor force participation (May 6)
    • Previously: April jobs numbers fall short (May 6)
    | Fri, May 6, 8:47 AM | 19 Comments
  • Fri, Apr. 29, 11:34 AM
    • A board selloff in the greenback (UUP -0.7%) has gold (GLD +2%) eyeing $1,300 per ounce for the first time since early 2015. Gold is currently up 2.5% to $1,298.
    • There was modest disappointment in some 2nd-tier economic reports this morning, but other than that no clear reason for the dollar decline. Particularly strong are the euro (FXE +0.9%), Swiss franc (FXF +0.8%), and yen (FXY +1.1%). The commodity currencies (FXC +0.1%), (FXA -0.1%) aren't doing a whole lot even as oil takes out $46 per barrel.
    • ETFs: GLD, IAU, UUP, PHYS, SGOL, UGL, UDN, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, USDU, GYEN, GEUR, UBG, QGLDX
    | Fri, Apr. 29, 11:34 AM | 42 Comments
  • Wed, Apr. 13, 4:44 PM
    • The catalyst will be a turned-hawkish Fed, says strategist Athanasios Vamvakidis. And why would the Fed turn hawkish? Price pressures will force its hand, he says, expecting the sort of sharp moves in the currency seen after the Fed announced the QE taper.
    • That rally beginning in late 2014 pushed the dollar to its strongest level since 2003.
    • The dollar index is down 4% this year as the expectations for Fed rate hikes have been scaled back.
    • ETFs: UUP, UDN, USDU
    | Wed, Apr. 13, 4:44 PM
  • Fri, Apr. 8, 2:51 AM
    | Fri, Apr. 8, 2:51 AM | 12 Comments
  • Thu, Mar. 31, 3:24 AM
    • Investors are tracking market moves after the dollar hit a six-week low against the euro, weakening in the wake of recent dovish comments from U.S. Fed Chair Janet Yellen.
    • But it's not just the euro that's making gains against the USD, Asian currencies are also getting a big boost.
    • The Australian and New Zealand dollar are near nine-month peaks, while the Malaysian ringgit has climbed to a new seven-month high against the greenback.
    • ETFs: UUP, UDN, USDU
    | Thu, Mar. 31, 3:24 AM | 5 Comments
  • Thu, Mar. 24, 8:20 AM
    • Via Bloomberg:
    • "It’s time for the Federal Reserve to end its dollar fixation. That’s the takeaway from a Goldman Sachs Group Inc. report Wednesday that suggests the U.S. currency poses little threat to the Fed’s inflation goals, challenging policy makers’ comments to the contrary. That’s good news for dollar bulls who are betting on expanded monetary-policy divergence between the U.S., Europe and Japan.
    • "Inflation is at the heart of the Fed’s debate about the timing of interest-rate increases as officials look to normalize monetary policy after seven years of near-zero borrowing costs. With a stronger dollar not translating into significantly cheaper import prices, Goldman Sachs suggests the central bank faces fewer headwinds to hiking rates than markets are currently pricing in."
    • ETFs: UUP, UDN, USDU, RINF
    | Thu, Mar. 24, 8:20 AM | 13 Comments
  • Wed, Mar. 23, 3:44 PM
    • The Fed last week may have slashed its expectation for rate hikes this year by 50 basis points, but public comments since have taken on a more hawkish tone. The latest was this morning, with St. Louis Fed boss Jim Bullard suggesting April could work for the next boost in interest rates.
    • The dollar (UUP +0.5%) continues its move higher, and gold (GLD -2.3%) its move lower, with the metal at the $1,220 per ounce level for the first time since late February.
    • Also struggling is crude oil (USO -4.1%), which earlier was hit with news of a sizable jump in inventories.
    • ETFs: GLD, IAU, UUP, PHYS, SGOL, UDN, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, USDU, GEUR, GYEN, UBG, QGLDX
    | Wed, Mar. 23, 3:44 PM | 54 Comments
  • Tue, Mar. 22, 12:56 PM
    • The greenback's weakness this year despite the best efforts of the ECB and the BOJ to drive their own currencies lower suggests those central banks have run out of ammunition, says the currency team at HSBC.
    • Investors (outside of those in Europe and Japan) should welcome this, says the bank, as the strong dollar added to global issues by fostering declines in emerging market currencies and oil - a one-two punch for many economies.
    • By HSBC's view, the currency war started in 2012, and the dollar has mostly been on the rise ever since.
    • ETFs: UUP, UDN, USDU
    | Tue, Mar. 22, 12:56 PM | 3 Comments
UDN Description
The PowerShares DB US Dollar Bearish Fund (Symbol: UDN) is based on the Deutsche Bank Short US Dollar Index (USDX®) Futures Index™ (DB Short USD Futures Index). The Index, which is managed by DB Commodity Services LLC, is a rules-based index composed solely of short USDX® futures contracts. The USDX® futures contract is designed to replicate the performance of being short the US Dollar against the following currencies: Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. You cannot invest directly in an index. Ordinary brokerage commissions apply.
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