So Far The Falling U.S. Dollar Index Saves Monday
This morning, the U.S. Dollar Index has declined sharply since the opening bell rang at the New York Stock Exchange(NYSE). By now, we should all know when the U.S. Dollar Index declines the major stock market indexes will usually inflate and trade higher. That is certainly the case this morning, the U.S. Dollar Index futures(DX U1) have pulled back by 0.50 cents to $75.77 per contract. Traders must closely follow the U.S. Dollar Index at all times. The major stock indexes continue to trade inverse to the dollar.
Normally, when the U.S. Dollar Index declines leading stocks such as Exxon Mobil Corp.(NYSE:XOM), Freeport McMoRan Inc.(NYSE:FCX), and Cliffs Natural Resources Inc.(NYSE:CLF) will rally and trade higher. Should the U.S. Dollar Index rally or bounce higher it would be prudent to expect the major stock indexes to pullback.