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PowerShares DB USD Bear ETF (UDN)

- NYSEARCA
  • May 27, 2011, 11:21 AM
    The dollar is down solidly across the board, particularly vs. the Swiss franc, where the greenback has fallen to a new all-time low. Chatter is on the rise that rate hikes could begin in Switzerland as soon as June. FXF +1.5%, UUP -0.8%.
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  • May 23, 2011, 2:55 PM
    It's RORO (risk-on-risk-off), not fundamentals, that dominates currency markets and makes them trade "through the looking glass," aruges HSBC's David Bloom. Analyzed in this fashion, the lifting of the U.S. debt ceiling - averting a crisis and thus being good news - should lead to a sell-off in the greenback.
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  • May 18, 2011, 4:38 PM
    Goldman's Thomas Stolper renews his call for dollar weakness, raising his estimate for the euro to $1.55 within a year. Until manufacturing picks up and the trade deficit comes more into balance, the path for the greenback will be lower. The main risk to his forecast: "asset weakness," i.e. the "risk off" trade would give the dollar a powerful bid.
    | 5 Comments
  • May 18, 2011, 2:40 PM
    The dollar catches a bid in the wake of marginally hawkish Fed minutes. As has been the recent case, the euro is most volatile, sinking 60 pips in minutes, now -0.2% at $1.422.
    | 1 Comment
  • May 17, 2011, 4:30 PM
    Seeking alpha can get difficult as correlations move towards 1. The direction of currencies, especially during U.S. trading hours, seems to be hostage to each tick in the S&P. The euro and the aussie provide nice examples in today's action, with the aussie correlation especially strong over the longer term.
    | 5 Comments
  • May 17, 2011, 9:16 AM
    Sterling gives up sharp gains following stronger than expected U.K inflation. Two reasons: First, the report is not likely to bring about tighter policy from the BoE, which is dug in on the transitory nature of higher prices. Second, a mild "risk on" day has morphed into a mild "risk off" day, bearish for currencies.
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  • May 16, 2011, 11:16 AM
    The "risk on" move that began around the time the East Coast woke up brings notable reversals in the currency market. The euro makes a particularly impressive move, gaining nearly 200 pips from its jittery opening in the wake of the DSK news. Somebody actually sold euros because of this? FXE +0.9%, UUP -0.6%.
    | 2 Comments
  • May 13, 2011, 11:49 AM
    Unable to bear uninformed chatter about the dollar moving commodities or vice versa (and by extension stock prices), John Forman takes the time to run some regression analysis. Not too surprisingly, he finds neither asset leading the other, but both trading off the same drivers and moving together.
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  • May 13, 2011, 10:05 AM
    A reversal in capital flows due to the end of QEII is likely to be the cause of the next leg down in commodities, argues UBS. Emerging markets, no longer needing to print domestic currency to sweep up dollars, will see a lending boom end. UBS is getting long greenbacks, long bonds, short commodities, short EM shares.
    | 6 Comments
  • May 5, 2011, 3:49 PM
    The removal of the word "vigilance" from Trichet's opening statement this morning and a nod to Geithner/Bernanke talking up the dollar was more than a signal the ECB was going to pause its rate hikes, says Steve Liesman. It could be the ECB is waiting for the Fed to make the next rate move. FXE -2.0%.
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  • May 4, 2011, 12:04 PM
    Seeking to further diversify from the greenback, South Korea considers investing a portion of its more than $300B in foreign currency reserves (7th largest on the planet) in yuan-denominated securities. U.S. securities currently make up about 64% of SK's stash.
    | 3 Comments
  • May 4, 2011, 10:55 AM
    Business is booming at FiREapps, where CEO Wolfgang Koester says U.S. firms are clamoring to hedge against dollar weakness. Jeff Macke notes companies getting swept up in this sort of worry could mark the sign of a market extreme - witness airlines' rush to hedge near the top of the 2008 oil mania.
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  • May 3, 2011, 10:36 AM
    Seeking an outlet for FX reserves other than U.S. Treasuries, Asian policymakers meeting in Hanoi discuss setting up a fund to invest in needed infrastructure. More than a decade after the Asian contagion, these countries have built up $6T in reserves, half of that belonging to China.
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  • May 2, 2011, 12:27 PM
    A roundup of economists' reactions to the killing of Osama bin Laden ranges from effects on the dollar and gold to an overall lowering of equity risk premiums and beyond. Ed Yardeni: "My sense is that most fully invested bears would turn into outright bulls if fiscal discipline were to make a comeback in the U.S. and if John Wayne were back in the saddle again."
    | 3 Comments
  • May 2, 2011, 11:35 AM
    A falling dollar brings handles not recently seen or never seen before vs. major currencies. The euro climbs to $1.49 for the first time since 2009, now within sight of pre-GFC levels. The aussie punches through $1.10, never even having hit $1.03 just six weeks ago.
    | 7 Comments
  • Apr. 30, 2011, 8:15 AM
    Tim Geithner and Treasury may not be intentionally holding down the dollar, but that doesn't mean it's poised for any kind of rally. There are still ways to profit from the incredible shrinking greenback, including large-cap heavy exporters, international bonds, gold (of course), and some - not all - foreign currencies.
    | 2 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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