Use access key #2 to skip to page content.

inthemoneystock (< 20)

Can The U.S. Dollar Index Decline Enough To Keep Markets Afloat?

Recs

0

June 16, 2011 – Comments (0) | RELATED TICKERS: FCX , CLF , XOM

Before the opening bell rang at the New York Stock Exchange, the U.S. Dollar Index was surging higher again. Around 8:35 am EST, the U.S. Dollar Index began to decline. Once the U.S. Dollar Index began to sell off the major stock market indexes started to rally and trade higher. It is important to note that yesterday the U.S. Dollar Index rallied higher by more than $1.25 per contract. This is a major move higher for the U.S. Dollar Index. The last time the U.S. Dollar Index rallied this sharply was on May 5, 2011.

Traders should watch leading commodity stocks to move higher when the U.S. Dollar Index declines. Stocks such as Freeport McMoran Copper & Gold Inc.(NYSE:FCX), Cliffs Natural Resources Inc.(NYSE:CLF), and Exxon Mobil Corp.(NYSE:XOM) will usually react positive when the U.S. Dollar Index pulls back intra-day. These same stocks will also decline quickly when the U.S. Dollar Index rallies or bounces higher.

Every trader must keep an eye on the U.S. Dollar Index chart at this time. This index has become one of the most important indexes for all types of traders. Essentially, ever trade is a trade on the U.S. Dollar Index.


Nicholas Santiago
InTheMoneyStocks.com

0 Comments – Post Your Own

Featured Broker Partners


Advertisement