|Bid||26.31 x 40000|
|Ask||26.32 x 38500|
|Day's Range||26.29 - 26.32|
|52 Week Range||25.30 - 27.17|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||1.41%|
|Beta (5Y Monthly)||-3.19|
|Expense Ratio (net)||0.75%|
This article was originally published on ETFTrends.com. As a result, the dollar index (DXY) slid, but now that tensions in the Middle East have somewhat subsided for the time being, bulls are hoping that they can push the dollar past a key DXY level. “The US Dollar has extended its 2020 bullish run following last week’s ascending triangle break,” wrote James Stanley in Daily FX.
U.S. Sen. Bernie Sanders may have a real chance at becoming the next president of the United States, and DoubleLine CEO Jeffrey Gundlach said Tuesday that Sanders poses the single biggest risk to U.S. financial markets in 2020. In an investor webcast this week, the billionaire investor said Sanders is a stronger candidate for the Democratic nomination and a larger threat to Wall Street than investors seem to realize. The Democratic candidate has also proposed a financial transaction tax that would tax all stock trades at 0.5%, all bond trades at 0.1% and all derivative trades at 0.005%.
UUP tracks the price movement of the U.S. dollar against a basket of currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. Now, some currency market observers are banking on more downside for the greenback. Enter the Invesco DB US Dollar Index Bearish Fund (UDN) , UUP's bearish counterpart.
It was just a few years ago, 2013 and 2014 to be precise, that currency hedged exchange traded funds were all the rage. Since 2015, ETFs designed to benefit from dollar strength against foreign currencies have beset by $45 billion in outflows. With the Invesco DB US Dollar Index Bullish Fund (NYSE: UUP) up 5.23% year to date, a strong case can be made that investors looking to nibble at foreign stocks should consider currency hedged funds.
Technically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish, and continues to strengthen, amid constructive October price action, writes Michael Ashbaugh.
Small-cap value ETFs are riding high of late on the back of a dovish Fed, heightened trade war tensions, global growth worries, geopolitical risks, stronger dollar but a decently growing U.s. economy.
U.S. dollar-related ETFs continued to rally, with the greenback pushing toward its highest level in over two years, as global uncertainty pushed global investors to the more attractive U.S. markets. Year-to-date, the Invesco DB US Dollar Bullish (UUP) increased 5.6%, and the WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) rose 4.1%. Meanwhile, the ICE Dollar Index, which tracks the greenback against a basket of its peers, hit its highest level since mid-2017 on Tuesday.
Today, President Trump tweeted that he wants the Fed to cut the federal funds rate by “at least 100 basis points.” The Fed rates by 25 basis points in July.
The US dollar has been solid this year, perhaps too strong for some investors' liking as highlighted by an almost 4% year-to-date gain for the Invesco DB US Dollar Index Bullish Fund (UUP) . UUP, the largest ETF dedicated to tracking the dollar’s move against major currencies, seeks to establish long positions in ICE U.S. Dollar Index futures contracts with a view to tracking the changes, whether positive or negative, in the level of the Deutsche Bank Long USD Currency Portfolio Index — Excess ReturnTM over time, plus the excess, if any, of the sum of the fund’s Treasury Income, Money Market Income and T-Bill ETF Income over the expenses of the fund. The fund invests in futures contracts in an attempt to track its index.
There is a hidden string that ties currencies to crude oil. This correlation persists for many reasons, including resource distribution, the balance of trade (BOT), and market psychology. Also, there is crude oil’s significant contribution to inflationary and deflationary pressures that intensifies these interrelationships during strongly trending periods—both to the upside and to the downside.
India ETFs have been suffering on a host of reasons despite easy money policy. Will a fresh and fourth quarter rate of the year boost ETFs?
Gold Briefly Breaks Through $1,500, JPMorgan Says Buy JPMorgan (NYSE:JPM) is coming out as a gold bull, though a little late in the game since gold (NYSEARCA:GLD) has been rising for nearly 4 years now since bottoming at $1,045 in December of 2015. The big bank had some choice words about the US dollar (NYSEARCA:UUP) […]The post Market Morning: Gold Breaks $1,500, World Watches Yuan, Bezos Sells, Fed Chairs Unite appeared first on Market Exclusive.
As China devalued its currency as a retaliatory move against Trump's fresh tariff threats, these asset classes and ETFs could be in the spotlight.
Currency ETFs are reflecting investors' uncertainty in the face of heightened volatility after China's decision to let its yuan currency break through a key level in response to an escalating trade war with the U.S. On Monday, Beijing allowed its yuan to break above the 7 per dollar level for the first time in 11 years, which many interpreted as a direct response to President Donald Trump's threat of additional tariffs, Reuters reports. China's willingness to allow its currency to offset the impact of a year-long trade spate is seen as a new step in the ongoing trade war.