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Thursday, June 6, 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.
14 Comments[Global & FX, On the Move]
Friday, May 31, 1:20 PM
The dollar (UUP, UND) could be entering the end of a 10-year downtrend, says Nomura's Jens Nordvig. We've gotten used to the greenback rallying during panics, but of late the dollar's headed higher for maybe other reasons - better relative economic performance, an improving trade deficit, even a smaller budget shortfall. "This is the type of shift that is just starting," he says. "It can be a multi-year phenomenon."
8 Comments[Global & FX]
Wednesday, May 22, 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.
11 Comments
Wednesday, May 22, 10:42 AMBernanke: 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%).
5 Comments
Friday, May 17, 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.
Comment![Global & FX]
Friday, May 17, 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%).
5 Comments[Global & FX]
Wednesday, May 15, 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.
34 Comments[Commodities, On the Move]
Thursday, May 9, 3:06 PM
The dollar (UUP +1%) is soaring across the board (not just against the yen, where it's now spiked through ¥100 to ¥100.56). The greenback is threatening parity vs. the aussie (FXA -1.1%) for the first time since last summer, and the euro (FXE -1.1%), swissie (FXF -1.4%), loonie (FXC -0.5%), and pound (FXB -0.6%) are seeing sizable declines as well. Commodities? Red. Gold (GLD -1.1%), Silver (SLV -1.2%), Oil (USO -0.6%), Copper (JJC -0.8%).
5 Comments[Global & FX, Commodities, On the Move]
Thursday, May 9, 4:53 AM
RBC is bullish on the U.S. dollar: "Longer term, we still expect to see USD grind higher almost by default when other currencies remain under cyclical pressure. We think the U.S. is further ahead in the economic cycle compared to the euro area, UK and Japan, and over a long enough horizon, the prospect of Fed exit will drive that through to the currency." (ETFs: DBV, UUP, UDN, UUPT, UDNT)
Comment![U.S. Economy]
Friday, May 3, 8:43 AM
Stock futures pop after the big NFP beat, SPY +0.8%, QQQ +0.7% premarket. The long bond dives, now down nearly a full point, TLT -1.2% premarket. Sporting losses earlier, the dollar moves into the green, UUP +0.4%. Nicely higher minutes ago, GLD -0.4%.
Comment!
Monday, April 29, 7:31 AM
Precious metals continue their comeback tour, with the dollar (UUP) being lower across the board as good an excuse as any for buying this morning. GLD +1.1%, SLV +1.5% premarket. The greenback is particularly weak vs. the aussie (FXA), +0.6%.
Comment![Commodities, On the Move]
Wednesday, April 17, 3:37 PM
Dollar strength against the "risk" currencies on these panicky sessions is often offset by weakness vs. the yen, leading to little change in the dollar index. Not today - the greenback is surging against nearly every asset on the planet, leading the dollar bull ETF (UUP +1.1) to a relatively outsized gain. UDN -1.1%.
1 Comment[Global & FX, On the Move]
Tuesday, April 16, 10:38 AM
Asset purchases are "open-ended but temporary," says the Chicago Fed's Charles Evans, adding he sees plenty of headwinds for the economy. In a rare comment on the dollar, he calls the greenback "quite strong" and says the FOMC is surprised by this. The dollar (UUP -0.5%) sheds a few more ticks, particularly vs. the euro - FXE +0.9%.
Comment![U.S. Economy, Global & FX]
Monday, April 15, 2:42 PM
Another popular position unwound today is the yen short trade, with much of the move coming in the past 90 minutes. The dollar (UUP) is off a full 1% vs. the yen (FXY +1.2%), but surging against most all other units. Particularly noteworthy are the "commodity currencies" - the aussie (FXA -1.6%), the loonie (FXC -1%).
1 Comment[Global & FX]
The_American USDUUPT U.S. Dollar had to rally to offset high OIL prices which would affect consumer spending & profits. There should be $ in GDXNUGTAA
12/28/11
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The_American As we Lack Leadership on the World Stage China strikes OIL deal in Afghanistan & Currency Deal on CYB Yuan & Japan JYF Yen to avoid USDUUPT
12/27/11
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Brandon Gibbs: In sports.. when you hurt yourself, you have to spend some time on the sidelines.
12/28/11
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The_American: We are behind the 8 ball. Call it what u want while Chinas hard at work hacking into the U.S. Chamber of Commerce & our OIL & Exp OIH etc
iadops40: metals looking ugly right now, miners might get punished
5/30/12
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The_American As we Lack Leadership on the World Stage China strikes OIL deal in Afghanistan & Currency Deal on CYB Yuan & Japan JYF Yen to avoid USDUUPT
12/27/11
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Brandon Gibbs: In sports.. when you hurt yourself, you have to spend some time on the sidelines.
12/28/11
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The_American: We are behind the 8 ball. Call it what u want while Chinas hard at work hacking into the U.S. Chamber of Commerce & our OIL & Exp OIH etc
Justin M. Hall 9/20/11 1:15A ET: Alternative Thinking - I'm betting the US Dollar (UUP, UUPT) will climb with indexes into year-end. BAC is also a buy.
9/20/11
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inquisitivemind7: Good thoughts Justin! The current environment favors the dollar without any more QE & wouldn't it be better to avoid or short financials?
9/20/11
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Justin M. Hall: I'm taking the contrarian position. UUP should hit $23 near-term. At that price, get out. BAC will eventually climb higher into year-end.
9/20/11
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