Thursday Outlook: Window-Dressing Symbolism

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Includes: DBA, DBB, DBC, DBS, EFA, EWA, EWC, EWZ, FXA, FXI, GLD, IFN, RSX, UDN, UUP
by: David Fry
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Wednesday ended with a little “pump” to keep things looking respectable. The trashing of the dollar seems irresponsible and unproductive. It may help U.S. stocks since overseas investors might view them as cheap in currency terms. But, I don’t like it.

Clearly interest rates aren’t too high now. Cutting rates further is just window-dressing symbolism.

We’re heading to the end of the month and there are many vested interests needing things to look better. Given the news, I’m surprised that indexes are doing as well as they are. But the tape tells a different tale thus far in February.

Today is GDP data and it will be interesting to see the reaction to any kind of number.

Have a pleasant day.

Disclaimer: Among other issues the ETF Digest maintains long or short positions in SH, PSQ, IEF, GLD, DBC, DBB, DBA, DBS and EWZ.

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