By InTheMoneyStocks on June 1st, 2010 9:38am Eastern Time
This morning the stock index futures are all trading sharply lower as the world's problems continue to pour in. The Euro currency made a new low against the dollar this morning putting pressure on the inflation trade. However, since 6:00 am EST the U.S. Dollar Index has pulled back over $0.40 cents to help the stock market indexes trade off the morning lows. When the dollar declines the markets will simply inflate and vice versa when the dollar rises the stock market indexes deflate.
Gold is trading higher this morning by 12.00 points to $1227.00 an ounce. The SPDR Gold Shares (NYSE:GLD) are trading higher this morning by $0.96 cents to $119.87. Gold will often surge higher when traders and investors become fearful of the markets.
July crude is lower by $0.74 cents to $73.25 to start the day. The United States Oil Fund (NYSE:USO) is trading lower by $0.43 cents to $33.61.
The U.S. Dollar will dictate every move in the market intra-day. Traders and investors who want to trade the U.S. Dollar index to the long side can use the PowerShares DB US Dollar Index Bullish (NYSE:UUP). For the traders and investors who would like to trade the dollar to the downside or short the currency can use the PowerShares DB US Dollar Index Bearish (NYSE:UDN).
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