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Keep An Eye On FXE

|Includes: CurrencyShares Euro Trust ETF (FXE)

Last week I did an article on the Legacy Commitments of Traders Report (NYSE:COT) in the US Dollar Index. This index is based on the performance of the U.S. Dollar relative to a basket of foreign currencies.

However this is a weighted basket, with the Euro having on overwhelmingly large percentage of nearly a 60% weighting. The other currencies in the basket are the Japanese Yen, British Pound, Canadian Dollar, Swedish Krona, and the Swiss Franc. So what happens to the euro is going to have a major impact on the performance of the dollar index. It is for this reason that some have requested I do some commentary on the euro futures.