An exchange traded fund that follows the U.S. Dollar Index rose above a key technical indicator on Monday as commodities ETFs were in the red on Europe’s debt crisis and economic fears.
PowerShares DB US Dollar Index Bullish Fund (NYSEArca: UUP) added nearly 1% to start the week and climbed above its 200-day exponential moving average. [Dollar ETF Staging a Comeback?]
In commodities ETFs, SPDR Gold Shares (NYSEArca: GLD) and U.S. Oil Fund (NYSEArca: USO) were down 2.6% and 1.2%, respectively.
The euro was falling against the dollar on lingering worries of a Greek default before a conference call between the Greek finance minister and senior officials from the European Union and the International Monetary Fund. [Greece Again Weighs on European ETFs]
PowerShares DB US Dollar Index Bullish Fund
Full disclosure: Tom Lydon’s clients own GLD.
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