By now everyone should know that when the U.S. Dollar Index is strong the major stock and commodity markets will deflate and trade lower. Most leading commodity stocks are falling sharply lower today as the U.S. Dollar Index futures surge higher. Traders can easily see how the PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) is trading higher by 0.17 cents to 22.51 a share.
This afternoon, most leading oil, mining, and coal stocks are trading sharply lower. Leading stocks such as Newmont Mining Corp (NYSE:NEM), Cliffs Natural Resources Inc (NYSE:CLF), and Chevron Corp (NYSE:CVX) are all coming under selling pressure. As I always say, every trade is a trade on the U.S. Dollar Index. Should the U.S. Dollar Index pullback from its intra-day high there could be an inflation bounce in the market, however, until that time the U.S. Dollar Index is very strong.
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The Dollar Breakout Brings Down Markets
Published 05/16/2012, 02:20 AM
Updated 07/09/2023, 06:31 AM
The Dollar Breakout Brings Down Markets
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