This morning, the major stock market indexes in the world are rallying sharply higher. The catalyst for the move up in the market comes as the Italian government staged a successful bond auction in short term debt. Traders that want to skip the news out of Europe can simply follow the action in the U.S. Dollar Index futures (DX-M2). When the dollar falls the markets will inflate and trade higher.
Today, the U.S. Dollar Index futures are declining lower by 0.23 cents to $79.78 per contract. Believe it or not, 0.23 cents in the U.S. Dollar index moves markets. Positive results out of Alcoa Inc (NYSE:AA) are also helping the markets this morning. Some equities that will be in play today include iShares MSCI Italy Index (ETF) (NYSEARCA:EWI), iShares MSCI Germany Index Fund (ETF) (NYSEARCA:EWG), CurrencyShares Euro Trust (NYSEARCA:FXE), and the PowerShares DB US Dollar Index Bearish (NYSEARCA:UDN).
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Markets Pop After Italian Bond Auction, Who Is Buying?
Published 04/11/2012, 09:18 AM
Updated 07/09/2023, 06:31 AM
Markets Pop After Italian Bond Auction, Who Is Buying?
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