Once again, the U.S. Dollar Index (DX-M2) is declining lower after the opening bell rings at the New York Stock Exchange. This happens very often when the major stock indexes are breaking lower. You see, when the dollar declines everything in the stock and commodity markets will inflate and trade higher. Just the opposite will happen when the U.S. Dollar Index rallies, the stock markets will decline and deflate lower.
As you all know by now, J.P. Morgan Chase & Co (NYSE:JPM) reported a $2 billion trading loss in the highly controversial derivative market. This action caused the futures market to decline sharply lower overnight. Traders should note that the stock market really moves inversely to the U.S. Dollar Index. This morning, the major stock indexes have moved to the positive side as the U.S. Dollar Index declined lower. Some leading indexes that have reversed earlier losses include PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), iShares Russell 2000 Index (ETF) (NYSEARCA:IWM), and the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA).
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Can The Dollar Fall Enough To Save The Day?
Published 05/13/2012, 01:52 AM
Updated 07/09/2023, 06:31 AM
Can The Dollar Fall Enough To Save The Day?
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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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