IS Gold Getting Its Glitter Back?

The expansion of the quantitative easing by the ECB has put a renewed pressure of the greenback to go up. Mind you euro is the biggest component of the dollar basket and the QE has been hugely negative for the euro. When the U.S. dollar goes up then naturally the commodities priced against it will go…

Dollar Facing Resistance Even With Tailwind

By reaching a low of 78.915 in the last week of January 2013, the Dollar index made a double bottom – it made the first bottom of 78.725 in early September. The index completed the pattern in late February 2013, by breaking above the intermediate high of 81.515 between the two bottoms made in the…

Dollar Index Explained

The U.S. Dollar index is a geometrically average of six currencies weighted against the U.S. dollar. It was created by the Federal Reserve in 1973 and the ICE USDX index is the trading vehicle for it. The index contains six currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. The euro…

Daily Remarks – Wednesday August 22, 2012

Two thirds of August trading days are behind us but the month is not playing up to its reputation so far. Bucking the History: Stock Trader’s Almanac notes that over the past 61 years, August has been 10th best month for Dow Jones Industrial Average and NASDAQ or in other words, third worst. August is 9th best for…