PowerShares DB USD Bear ETF

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  • Aug. 7, 2013, 12:47 PM
    • Morgan Stanley returns to the bullish dollar camp only a few months after turning bearish on the greenback ahead of its early-summer tumble.
    • "The trend in the dollar is clearly to the upside," says the bank's head of FX strategy, Hans Redeker, who sees the dollar strengthening to $1.26 per euro (FXE) and 107 yen (FXY) by year's end.
    • Redeker says the reasoning for his previous bearish stance was the need for a "pause" in the rampant dollar bullishness of late spring.
    • Dollar ETFs: UUP, UDN. Leveraged dollar ETFs: UUPT, UDNT.
    • Other euro ETFs: ULE, ERO, URR, DRR, EUO.
    • Other yen ETFs: YCL, YCS, JYN.
    | Aug. 7, 2013, 12:47 PM | 1 Comment
  • Jul. 16, 2013, 10:01 AM
    Sentiment towards China (FXI, CAF) continues to worsen, according to the BAML Fund Manager Survey, with 65% seeing the country's economy weakening in the next year. In December 2012, the same percentage saw things getting better. Meanwhile, the appetite for developed-market equities (VTI) continues to grow, with those overweight stocks up 9 points in 2 months to 52%. 83% favor the dollar (UUP) over other currencies, the highest in the history of the survey. 55% are now underweight fixed income (AGG, BND), and average cash holdings are up to 4.6%, the highest in a year. "The Great Rotation is in full force," says Michael Hartnett.
    | Jul. 16, 2013, 10:01 AM | 3 Comments
  • Jul. 11, 2013, 4:19 AM
    The dollar (UDN) takes a tumble against a swathe of currencies in the wake of Ben Bernanke's comments that the U.S. economy needs a "highly accommodative monetary policy for the foreseeable future." Meanwhile, commodities rip higher. Dollar index -1.15%, EUR-USD +0.4%, GBP-USD +0.45%, USD-JPY -0.45%, AUD-USD +0.6%, USD-CAD -0.8%. Oil (OIL) +0.6%, Gold (GLD) +2.9%, Silver (SLV) +4.4%, Copper +2.9%.
    | Jul. 11, 2013, 4:19 AM | 8 Comments
  • Jul. 5, 2013, 9:02 AM

    The dollar adds to strong gains following the better-than-expected NFP print. The greenback was already higher - notably vs. the euro and sterling - following the dovish tilt of the ECB and BOE policy meetings yesterday. It's also solidly back over ¥100, up 1% and buying ¥101.06. UUP +1.5% premarket.

    | Jul. 5, 2013, 9:02 AM
  • Jun. 24, 2013, 7:26 AM

    The Fed's Friday afternoon attempt to soothe tightening fears and tumbling overseas markets are not generating the usual bid for Treasurys which continue their declines, TLT -0.5% premarket and the 10-year Treasury yield gaining another 5 bps to 2.58%. The 5-year yield (IEI) is up another 6 bps to1.49% - a pretty big number if you believe ZIRP stays in place for another 2 years. The dollar remains, well-bid, UUP +0.3% premarket.

    | Jun. 24, 2013, 7:26 AM | 6 Comments
  • Jun. 21, 2013, 4:05 AM
    The U.S. Dollar Index is +0.1% as the greenback mostly continues to add to the gains it enjoyed yesterday following the Fed's QE comments, although not with the same intensity. USD-EUR flat, USD-JPY (FXY) +0.6%, USD-GBP (GBB) +0.1%, USD-AUD -0.3%, USD-CHF +0.1%.
    | Jun. 21, 2013, 4:05 AM
  • Jun. 20, 2013, 7:13 AM

    The disappearing Australian dollar: The aussie (FXA) slides another 0.8% to a 3-year low of $0.9214. This currency's one-way move since early April - now off 14 handles - may be more impressive than the yen's 2013 dive. The ASX 200 (EWA) takes no comfort, falling 2.1% overnight. The greenback continues higher against all currencies following Bernanke signaling the end of QE. UUP +0.8%, UDN -0.8% premarket. For leverage fans, there's UUPT, UDNT.

    | Jun. 20, 2013, 7:13 AM | 3 Comments
  • Jun. 20, 2013, 3:09 AM
    The dollar strengthens across the board following the Ben Bernanke Show yesterday. "Bernanke was more explicit than markets had expected. Rising U.S. yields will spur broad dollar buying. The dollar's direction is now set," says Credit Agricole's Yuji Saito. USD-JPY (FXY) +1.1%, USD-EUR +0.3%, USD-GBP (GBB) +0.3%, USD-AUD +0.6%.
    | Jun. 20, 2013, 3:09 AM | 2 Comments
  • Jun. 19, 2013, 2:13 PM

    Bond prices (TLT -0.7%) slip following the more upbeat assessment of the economy from the FOMC. Higher growth and lower unemployment projections spell maybe a quicker schedule for tapering and eventual tightening, but materially lower inflation expectations say the opposite. Stocks give up a bit of ground as well, the S&P 500 (SPY -0.3%). The dollar (UUP +0.3%) pops higher across the board.

    | Jun. 19, 2013, 2:13 PM | 4 Comments
  • Jun. 14, 2013, 11:08 AM
    The IMF cuts its 2014 U.S. GDP growth outlook to 2.7% from 3%. The organization cut its 2013 forecast for U.S. growth to 1.7% from 2% in April.
    | Jun. 14, 2013, 11:08 AM
  • Jun. 6, 2013, 12:28 PM
    Unusual given past patterns, the dollar (UUP -1.7%) is being unloaded across the board and in size along with stocks selling off. The euro (FXE +1.5%), cable (FXB +1.8%), the yen (FXY +3.1%), the aussie (FXA +1.1%), and the loonie (FXC +1.3%) are all sharply higher vs. the greenback. The Dow's now off 86 points.
    | Jun. 6, 2013, 12:28 PM | 14 Comments
  • May 22, 2013, 2:10 PM

    Stocks had already shed their Bernanke-testimony gains from this morning and they head even lower following the release of the FOMC minutes showing a "number" willing to begin tapering QE as soon as the next policy meeting. S&P 500 (SPY -0.4%), Nasdaq 100 (QQQ -0.6%). The dollar (UUP +0.4%) moves to a new session-high, and Treasurys (TLT -1.3%) continue to sell off.

    | May 22, 2013, 2:10 PM | 11 Comments
  • May 22, 2013, 10:42 AM
    Bernanke: Stocks continue with solid gains as the chairman suggests the Fed may never sell the massive assets it's accumulated, instead just letting them roll down. Most interesting are Treasury prices (TLT -1.1%) rolling over - the 10-year yield sunk to 1.89% as Bernanke's soft comments hit the tape, but has reversed to now threaten 2%. Gold (GLD +0.6%) has given up much of its knee-jerk gains, and the dollar (UUP +0.3%) is having none of it, higher across the board, particularly vs. the aussie (FXA -1.1%), yen (FXY -1%), and loonie (FXC -0.6%).
    | May 22, 2013, 10:42 AM | 5 Comments
  • May 17, 2013, 12:53 PM
     The bull move in the greenback (UUP, UUPT) is just getting started, writes Vince Cignarella, believing the dollar's about to get another boost from safe-haven flows. The catalyst will be a selloff in fixed income taking yields on junk bonds (HYG, JNK) - now at all-time lows - to more realistic levels. The catalyst for the catalyst? It won't be 2007 all over again, he says, but instead maybe the dreaded "tapering" move from the Fed, or perhaps Syria flaming up higher.
    | May 17, 2013, 12:53 PM
  • May 17, 2013, 9:38 AM
    Did the Fed tighten while we were getting a cup of coffee? The greenback is soaring against all other currencies, with the dollar bull ETF (UUP) gaining 0.6% - an unusually large move for that vehicle. Strength against the yen (FXY -0.3%) and the aussie (FXA -0.9%) are givens of late, but the greenback is up about 1% vs. both the loonie (FXC) and the swissie (FXF), and about 0.6% vs. the euro (FXE) and cable (FXB). Getting hit are Treasurys (TLT -0.5%), the dollar bear ETF (UDN -0.6%) and of course, gold (GLD -0.7%).
    | May 17, 2013, 9:38 AM | 5 Comments
  • May 15, 2013, 11:16 AM

    Gold (GLD -2.1%), (IAU -2.2%) sinks back below $1,400 as the bounce since mid-April is officially over. At work here, suggests RBC Capital, is the strong stock market. To participate, foreign investors sell gold, buy dollars (UUP is up big in May), and call their stockbrokers. Commerzbank notes gold ETF outflows were another 6 tons yesterday, bringing the total since early April to 230 tons. Silver (SLV -3.1%) tags along.

    | May 15, 2013, 11:16 AM | 34 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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