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PowerShares DB USD Bear ETF (UDN)

- NYSEARCA
  • Today, 11:26 AM
    • Did Medley Advisors get another leak from the Fed? Ahead of a 2-day FOMC policy meeting starting tomorrow, gold has one of its biggest moves (higher) in recent memory - up about $16 per ounce over the past hour to $1,201 per ounce.
    • GLD +2%
    • One could look at the dollar (UUP, UDN), but it's off only marginally (though down a full 1% vs. the aussie as rate cut expectations Down Under get scaled back).
    • Turning back to the Fed, it's got to account for a long recent string of weaker-than-expected economic reports and Q1 GDP growth that's likely going to come in at less than 1%.
    • ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, AGOL, TBAR, GEUR, UBG, GYEN, BAR
    | 1 Comment
  • Wed, Apr. 22, 3:18 PM
    • Questioning the sustainability of the dollar (UUP, UDN) bull market and believing the greenback to be overvalued across the board, Research Affiliates' Michele Mazzoleni suggests now might not be a bad time for U.S. investors to take advantage by picking up relatively cheap overseas assets.
    • People are buying dollars, he says, in anticipation of higher U.S. rates, but they're no certainty, and some Fed officials are appear to be having misgivings about tightening policy too soon, in part due to the strong dollar.
    • As for valuation, the dollar is more than 10% above its long-run value as predicted by Purchasing Power Parity theory. That's fine if rates are on the rise, but maybe unsustainable if not.
    • Previously: Fed's Rosengren talks rate hike delay (April 22)
    • ETFs: UUP, UDN, UUPT, UDNT, FORX, USDU
    | 3 Comments
  • Fri, Apr. 17, 3:12 AM
    • Following a string of disappointing U.S. economic data, the dollar hovered near a one-week low against a basket of major currencies on Friday and was on track for its biggest weekly drop in a month.
    • The dollar index, which last traded at 97.86, set a one-week low of 97.282 on Thursday - down 1.8% so far this week.
    • If U.S. consumer inflation data due later today comes in soft, it could reinforce the view the Fed will delay a rate hike in June and add further pressure against the dollar.
    • ETFs: UUP, UDN, UUPT, UDNT, FORX, USDU
    | 2 Comments
  • Tue, Apr. 14, 9:54 AM
    • More investors think the greenback (UUP, UDN) is overvalued than at any time since May 2009, according to BAML's April fund manager survey which shows a net 13% think the dollar is too pricey, up from 12% in March.
    • The world's most crowded trade? The dollar is a winner by a wide margin, with 60% believing so vs. less than 20% for #2, European stocks.
    • While the net 8% thinking the euro (NYSEARCA:FXE) is to cheap doesn't sound a like a lot, it's a turnaround from recent surveys which showed fund managers overall believing the common currency to be overvalued.
    • "April's survey offers further proof that global investors are front-running global monetary policy," says BAML's Michael Hartnett.
    • Source: WSJ
    | 2 Comments
  • Tue, Apr. 7, 11:49 AM
    • The dollar (UUP, UDN) has slumped 3.8% vs. the euro (NYSEARCA:FXE) over the past few weeks - likely a combination of profit-taking by those short euros and ideas the Fed will wait longer-than-expected before hiking rates. Among those maybe ringing the register is Ray Dalio's Bridgewater Associates - up a whopping 14% in Q1, partly thanks to a sizable short bet on the euro.
    • "The market is now pricing in a very subdued pace of the tightening cycle - we disagree," says ING's Petr Krpata. "We just see the latest correction as a perfect opportunity to get into the trade again."
    • ING was one of the first houses to forecast euro/dollar parity this year, and is sticking by its year-end forecast of $0.95.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, UUPT, FORX, UDNT, EUFX, USDU, ULE, URR
    | Comment!
  • Mon, Apr. 6, 3:21 PM
    • "While the U.S. economy as a whole is not overly exposed to exports, many of our largest and most influential companies are,” says BlackRock CEO Larry Fink in the soon-to-be released forward to the company annual report. "We believe that this will lead to an erosion in confidence on the part of CEOs with the potential to slow both investment decisions and future growth in the U.S.”
    • His comments are especially noteworthy given his previous relatively optimistic view on the U.S. economy and stock market.
    • Commenting on Friday's weak jobs number, BlackRock's CIO for fixed-income Rick Rieder says the damage done to exporters from the strong greenback is already being felt.
    • The dollar (UUP -0.5%) is lower today, but up 25% in the nine months from last June to March.
    • Source: FT
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 3 Comments
  • Fri, Apr. 3, 8:49 AM
    | 32 Comments
  • Thu, Apr. 2, 6:24 AM
    • U.S. equity-index futures dropped with the dollar on Thursday, the last trading day of the week for many markets before the Easter holiday season.
    • Despite many investors sitting on the sidelines prior to the weekend, markets are preparing for the monthly U.S. jobs report for clues on monetary policy.
    • The figures will follow yesterday's weaker-than-estimated data on hiring and manufacturing, which fueled speculation that the U.S. economy is slowing and bolstered the case for keeping interest-rates lower for longer.
    • U.S. stock index futures: Dow -0.3%; S&P -0.4%; Nasdaq -0.4%.
    • The U.S. Dollar Index -0.3% to 98.20.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | Comment!
  • Fri, Mar. 20, 9:29 AM
    | 64 Comments
  • Thu, Mar. 19, 8:04 AM
    • The PowerShares U.S. Dollar Bull ETF (NYSEARCA:UUP) is up 0.9% premarket after diving 2% yesterday following the Fed's surprisingly dovish outlook.
    • The euro is particularly weak, down 1.5% to $1.07 after climbing over $1.10 in very fast trade after the close yesterday. The pound (NYSEARCA:FXB) is down 0.6%, the yen (NYSEARCA:FXY0.5%, loonie (NYSEARCA:FXC1%, swissie (NYSEARCA:FXF1.3%, and aussie (NYSEARCA:FXA1.4%.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    • Previously: Flash crash in the dollar (March 18)
    • Previously: Dollar off sharply as Fed slows rate hike estimates (March 18)
    | 2 Comments
  • Wed, Mar. 18, 4:25 PM
    • A nice-sized rout in the overbought dollar following the unexpected Fed dovishness turns into something more after the bell, with the euro (NYSEARCA:FXE) flying all the way past $1.10 vs. just above $1.08 at 4 ET (prior to the Fed news, it was around $1.0650). In the last few minutes the common currency has returned to $1.0914.
    • The other major currencies also saw big post-4 ET moves, but not of the euro's magnitude.
    • The Dollar Bull ETF (NYSEARCA:UUP) is lower by 0.7% after hours, following a 2% dive in the day session.
    • Previously: Dollar off sharply as Fed slows rate hike estimates (March 18)
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, UUPT, FORX, UDNT, EUFX, USDU, ULE, URR
    | 6 Comments
  • Wed, Mar. 18, 2:15 PM
    | 1 Comment
  • Wed, Mar. 11, 9:46 AM
    • "The Fed is intent on being a blockhead," says Jeff Gundlach, arguing the U.S. central bank is about to make the same mistake the ECB did in 2011 when it hiked interest rates. The ECB found itself quickly reversing course as the higher rates helped precipitate a blow-up in the euro-periphery.
    • "Don't do it," he warns those who are thinking about going contrarian and shorting the dollar (UUP, UDN). Currency trends, he says, tend to go on and on. "The dollar, which has been a world leader, is going to be a world leader."
    • ETFs: AGG, UUP, BND, BOND, UDN, SCHZ, UUPT, FORX, UDNT, LAG, USDU, SAGG, GBF, FBND, IUSB, VBND
    | 23 Comments
  • Wed, Mar. 11, 4:34 AM
    • The euro fell to a fresh 12-year low on Wednesday, extending a broad decline just days after the ECB launched its €1T bond-buying program, while the dollar index soared to its highest in more than 11 years at 98.95, buoyed by expectations that the Fed could soon lift U.S. interest rates.
    • Nearly all now believe the FOMC will remove the word "patient" from its policy statement after its March 17-18 meeting, opening the door for a rate increase in June.
    • The euro is -0.4% at $1.0652.
    • Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
    • Dollar ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 10 Comments
  • Tue, Mar. 10, 8:02 AM
    • The greenback is higher across the board as the Fed goes into the blackout period ahead of the March 17-18 meeting at which nearly all now believe the FOMC will remove the word "patient" from its policy statement, thus putting a rate hike on the table at all future meetings.
    • The dollar is showing the most strength against the euro, aussie (NYSEARCA:FXA), and swissie (NYSEARCA:FXF) - up about 1% vs. all three.
    • Dollar ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 3 Comments
  • Fri, Mar. 6, 8:43 AM
    | 5 Comments
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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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Country: United States
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