|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||24.36 - 24.45|
|52 Week Range||23.66 - 26.83|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.78%|
The US dollar (UUP) fell 0.71% on December 13—the day the Federal Reserve raised interest rates a quarter point to 1.25%–1.50%.
The Federal Open Market Committee surprised absolutely nobody by raising its federal funds rate target 25 basis points (one-quarter percentage point), to 1.25%-1.50%. Treasury yields fell in the face of the as-expected FOMC decision with the dollar dipping in tandem. The two-year note, the coupon maturity most sensitive to Fed policy expectations, fell four basis points in yield from the 2 PM EST release of the Fed decision, to 1.778% by late after noon.
If we look at the performances of precious metals in relation to the dollar over the past few weeks, we see a visible inverse relationship.
A Reuters poll estimated that WTI crude oil (USL) prices could average $54.78 per barrel in 2018 after extending the production cuts.
US crude oil (UCO) (USL) futures contracts for January delivery rose 0.7% and were trading at $58.4 per barrel at 1:02 AM EST on December 12, 2017.
The US Dollar Index (UUP) continued its ascent against the other major currencies as investors positioned for a rate hike from the Fed and reacted to the increased possibility of tax reforms by the end ...
The FOMC’s two-day meeting will be held on December 12–13, 2017. The Fed is expected to raise the US interest rate during this meeting.
US market performance remained upbeat last week with the average returns of the three major indexes above 20% year-to-date.
Copper tends to be sensitive to geopolitical developments. This month, we’ve seen some interesting geopolitical developments.
All four precious metals have seen downward price movements over the past five trailing days. Gold, silver, platinum, and palladium have fallen 1.5%, 3.7%, 4.1%, and 0.83%, respectively.
The proposed US tax reform bill, or the Tax Cuts and Jobs Act, received approval from the US Senate on December 2. There was a vote of 51-49 in the Senate.
The US dollar has fallen almost 9.1% on a YTD basis. The iShares Gold Trust (IAU) and the iShares Silver Trust (SLV) have risen 11% and 2.8%, respectively.
The “Fast Money” traders share their final trades for the day including iShares MSCI Emerging Markets ETF, ProShares UltraShort 20+ Year Treasury, PowerShares DB US Dollar Index and Freeport-McMoRan.