Friday’s ETF to Watch: PowerShares DB Bullish Dollar
ETF Database submits:
As the stock market continues to trade range bound despite solid earnings reports from a variety of companies, economic data is beginning to weigh more heavily on the markets. With durable goods orders down 1% since last month and unemployment levels still above 9.5%, the economic outlook remains gloomy for most Americans. This leaves many economists to worry that we could sink back into a dreaded double-dip recession. While the U.S. situation remains uncertain, economic activity may be picking up in other developed markets which have seen positive developments lately.
Earlier this week, quality data came out of a variety of developed markets suggesting that the economic condition may be bottoming out in many advanced economies. In Europe, unemployment declined to 7.6% and economic confidence rose more than expected to top 101.3 compared to expectations of a ten basis point rise from 99.0 last month. Australia also reported good news when it released better-than-expected CPI numbers which showed growth of just 0.6% this quarter compared to a forecast of 1.0% while their neighbors in New Zealand raised rates by 25 basis points to 3%.
