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PowerShares DB USD Bull ETF (UUP)

- NYSEARCA
  • Wed, Feb. 11, 3:31 PM
    • “We in the U.S. are having to learn to live with a stronger and stronger dollar, not necessarily because we have got a stronger and stronger economy,” Goldman Sachs COO Gary Cohn tells Bloomberg. Though the Fed would like to normalize interest rates, it'll be "constrained" by the stronger currency, he says.
    • A case in point is PepsiCo, which earlier today said the powerful greenback will cut earnings growth by 7% this year.
    • The rest of the world, of course, seems desirous of a weaker currency, and as the Fed gets ready to tighten, monetary easing is going on from Canada to Europe to Australia.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 4 Comments
  • Fri, Feb. 6, 8:36 AM
    | 49 Comments
  • Fri, Feb. 6, 6:05 AM
    • The dollar gained some ground against other major currencies today, as markets eyed January's employment report which will likely show nonfarm payrolls increasing 234K last month after advancing by 252K in December - the longest stretch of job gains above 200K since 1994.
    • Ahead of the news, the U.S. dollar index is up 0.24% to 93.89, while U.S. futures are all higher by 0.1%.
    • The unemployment rate is forecast to hold steady at a 6-1/2 year low of 5.6%.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 1 Comment
  • Sat, Jan. 24, 8:26 AM
    • "I don’t see how the Fed can justify hiking rates when economic growth will disappoint, employment growth will fade, and inflation will overshoot on the downside," says Felix Zulauf at the Barron''s Roundtable. He wouldn't be shocked to see 2016 also pass by without tighter policy.
    • The iShares 20+ Year Treasury Bond ETF (NYSEARCA:TLT) is the largest position in his portfolio (the 30-year yield was 2.53% when the Roundtable took place earlier this month; it's 2.37% today). "The U.S. bond market is mispriced," he says, noting long-term yields on these shores tower over those in Europe (they tower far more after the ECB's QE this week).
    • Zulauf is also bullish on the dollar (NYSEARCA:UUP) - not exactly a contrarian view - but he says most don't understand the real reason for the greenback's strength: Basically the world is massively short greenbacks thanks to dollar weakness policies pursued by the Greenspan and Bernanke Feds. When the dollar corrects later this year on realization the Fed won't be lifting rates, it will be a good spot to get long.
    • Expecting a correction in U.S. stocks, Zulauf would then put money to work in the Market Vectors Retail ETF (NYSEARCA:RTH) - a strong dollar allows retailers to benefit by buying their overseas supplies cheaper.
    • Related ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, SBND, TLH, VGLT, DLBS, UBT, TLO, TENZ, LBND, TYBS, DLBL, UUP, UDN, UUPT, FORX, UDNT, USDU
    | 72 Comments
  • Fri, Jan. 9, 3:09 PM
    • Revising its forecast for a number of currency pairs to reflect what it believes will be a prolonged run  higher for the dollar, Goldman sees the euro (NYSEARCA:FXE) reaching parity with the greenback by Jan. 2017, and falling to as low as $0.90 a year later.
    • One other notable move is for the aussie (NYSEARCA:FXA), and the team now expects it to weaken to $0.75 by year's end vs. the previous forecast of $0.79. Alongside that expectation, naturally, is the forecast that commodity prices will continue to weaken.
    • U.S. dollar ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 2 Comments
  • Fri, Jan. 9, 11:56 AM
    • A quick $2 per barrel dive in the price of oil is hitting the major averages, with the Dow's (DIA -1%) decline the largest in percentage terms. WTI crude is lower by 3% to $47.30 per barrel. USO -2.7%
    • The move in stocks and oil has put a strong bid under Treasurys, with the 10-year yield now lower by a full eight basis points to 1.94%. TLT +0.8%, TBT -1.6%
    • The dollar (UUP, UDN) is enjoying a volatile session - up sharply following the strong headlines out of December's nonfarm payrolls number, but now moderately lower on the day.
    | 8 Comments
  • Fri, Jan. 9, 8:48 AM
    • A bit lower ahead of the jobs number, stock index futures have turned modestly higher after the print beat expectations, and prior moths' revisions were strong. SPY +0.2% premarket
    • Long-dated Treasurys are looking past the headlines though, and maybe eyeing falling labor force participation and lower wages as the 10-year yield slides three basis points to 1.99%.
    • Also down ahead of the print, the dollar (NYSEARCA:UUP) has shot higher across the board.
    | 1 Comment
  • Fri, Jan. 2, 3:11 AM
    • The euro is starting the new year at 29-month lows after the head of the European Central Bank fanned expectations it would take bolder steps on stimulus this month.
    • The currency sank as far as $1.2050, a level not seen since mid-2012, while the dollar notched up a near nine-year peak against a basket of major currencies following its best year since 2005.
    • The ECB council meets on Jan. 22 to decide if it will start buying sovereign debt.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, UUPT, FORX, UDNT, EUFX, USDU, ULE, URR
    | 1 Comment
  • Dec. 17, 2014, 2:18 PM
    • The Fed walks a fine line in its latest releases, making a rate hike in 2015 a near-certainty, but noting too-low inflation as making the pace of tightening slower than previously thought.
    • Stocks like the news, with the Dow (DIA +1.6%), S&P 500 (SPY +1.9%), and Nasdaq 100 (QQQ +1.6%) all popping to session highs.
    • The 10-year Treasury yield jumps nine basis points to 2.14%, and the dollar (UUP +0.4%) has given up some of its gains.
    • TLT -1%, TBT +2%
    • Ahead more than 3% ahead of the decision, WTI crude oil (NYSEARCA:USO) is now up 1.5% at $57.26. Gold (NYSEARCA:GLD) is up marginally following the news, now sitting at $1,200 per ounce.
    • Janet Yellen's press conference begins at 2:30 ET
    • Previously: "Patient" replaces "considerable time" in FOMC statement (Dec. 17, 2014)
    • Previously: Employment outlook improves, inflation outlook weakens in Fed projections (Dec. 17, 2014)
    | 14 Comments
  • Dec. 5, 2014, 8:46 AM
    | 7 Comments
  • Nov. 19, 2014, 1:05 PM
    • Alongside a bull market in the greenback, the WisdomTree (NASDAQ:WETF) Bloomberg U.S. Dollar Bullish Fund (NYSEARCA:USDU) has had net inflows of $118.7M YTD - 364% fund growth based on January 1 AUM of $32.6M (it launched last December).
    • USDU's chief competitor, the PowerShares-DB U.S. Dollar Bullish Portfolio (NYSEARCA:UUP), has seen stronger inflows - $207.8M - but the fund is far larger, now with $943M of AUM.
    • The UUP has outperformed - up 9.6% YTD vs. 6.1% for the WisdomTree offering - but it's essentially a play on the euro, which accounts for 60% of the fund's weighting. USDU tracks a basket of 10 developed and emerging currencies, and is probably more reflective of global trade, writes ETF.com's Dennis Hudachek.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    | 1 Comment
  • Nov. 7, 2014, 8:51 AM
    • The roughly inline nonfarm payrolls report has the algos at work, but most markets are about where they were before the 8:30 ET print.
    • Gold (NYSEARCA:GLD) is ahead by 0.4% to $1,146 per ounce, S&P 500 (NYSEARCA:SPY) futures are higher by 0.2%, the dollar (NYSEARCA:UUP) is lower by 0.25%, and the 10-year Treasury (NYSEARCA:TLT) yield is flat at 2.39%.
    • Previously: Jobs +214K, UE rate to 5.8%
    | 7 Comments
  • Nov. 7, 2014, 5:07 AM
    • The dollar firmed to near a 4-1/2 year high against a basket of currencies this morning, with its near-term future hinging on whether U.S nonfarm payrolls number today will support optimism about the U.S. economy.
    • Analysts predict that the U.S. economy created 240K new jobs in October.
    • The dollar index touched a high of 88.174, its strongest level since June 2010. The euro languished below $1.24, near two-year lows, after ECB President Mario Draghi renewed a pledge yesterday to provide more stimulus if needed.
    • ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    | Comment!
  • Nov. 5, 2014, 7:38 AM
    • The greenback is well-bid following the GOP victory overnight, with the dollar index higher by 0.6% (a fairly sizable move for this product).
    • UUP +0.65% premarket.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • The euro (NYSEARCA:FXE) is lower by 0.5% vs. the dollar; the pound (NYSEARCA:FXBby 0.6%; the yen (NYSEARCA:FXYby 1%; the Swiss franc (NYSEARCA:FXFby 0.5%, the aussie by 1.4%, and the loonie by 0.3%.
    • On the flip side, precious metals continue to tumble, with gold (-2.3%) and silver (-4.7%) at more than four-year lows.
    | 1 Comment
  • Oct. 29, 2014, 2:30 PM
    • While the statement - an end to QE, retention of the "considerable time" language, chatter about improving employment -wasn't much a surprise, the fact that the dissent came from the dove camp suggests perhaps there was a bit more hawkishness in the conference room than past meetings.
    • In any case, while stocks and longer-dated rates have a relatively subdued reaction, money is moving into the greenback (UUP +0.7%), with the euro (FXE -0.7%), yen (FXY -0.7%), pound (FXB -0.2%), Swiss franc (FXF -0.6%), loonie (FXC -0.4%), and aussie (FXA -0.6%) all considerably lower than they were 30 minutes ago.
    • ETFs: FXE, UUP, FXY, EUO, FXA, YCS, UDN, ERO, JYN, DRR, CROC, FORX, UUPT, UDNT, YCL, EUFX, ULE, USDU, URR, GDAY
    • Previously: QE ends, "considerable time" language stays for now
    | Comment!
  • Oct. 22, 2014, 3:40 AM
    • The euro flirted with one-week lows today following reports that the ECB is considering buying corporate bonds on the secondary market, expanding upon its private-sector asset-buying program which it began on Monday.
    • The euro briefly fell to $1.2706 its lowest level since Thursday and last stood at $1.2715.
    • U.S. CPI data due at 8:30 p.m. ET is expected to reveal a flat annual core CPI inflation at 1.7% in September, but a softer reading could undermine the dollar by adding to speculation that the Fed could wait longer before raising rates.
    • ETFs: FXE, UUP, EUO, UDN, ERO, DRR, FORX, UUPT, UDNT, EUFX, ULE, USDU, URR
    | Comment!
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UUP Description
The PowerShares DB US Dollar Bullish Fund (Symbol: UUP) is based on the Deutsche Bank Long US Dollar Index (USDX®) Futures Index™ (DB Long USD Futures Index). The Index, which is managed by DB Commodity Services LLC, is a rules-based index composed solely of long USDX® futures contracts. The USDX® futures contract is designed to replicate the performance of being long 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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