This morning, the S&P 500 Index e-mini futures (ES-U2) are trading higher by 6.50 points to 1396.50 per contract. Once again, when the stock market increases or inflates higher it is safe to say that the U.S. Dollar Index futures (DX-U2) are declining lower, that is the case again today. This important inverse relationship between the dollar and the stock market continues to occur on a daily basis. Earlier today, Italy reported another weak GDP report, however, the FTSE MIB (Italian stock market) is trading higher by 1.50 percent. The rest of the major European Union stock indexes are all holding up well before the opening bell in the United States.
Traders and investors should remember that leading commodities will often be the first equities to react positive to a weaker U.S. Dollar Index. Leading equities such as United States Gasoline Fund, LP (NYSEARCA:UGA), ProShares Ultra DJ-UBS Crude Oil (NYSEARCA:UCO), ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), and iPath Dow Jones UBS Copper Total Return Sub-Index ETN (NYSEARCA:JJC) will usually trade higher when the U.S. Dollar Index is weak. These same equities will often come under selling pressure when the U.S. Dollar Index rallies and trades higher.
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Markets Continue To Climb, Know These Levels
Published 08/08/2012, 12:34 AM
Updated 07/09/2023, 06:31 AM
Markets Continue To Climb, Know These Levels
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