Commodities take a tumble as the US Dollar Index rises above its 50 Day Moving Average (USD)

27 Feb 2018 | by: James Moore

Commodities have slumped this afternoon after the US Dollar Index took a good look at its 50 Day Moving Average (DMA). The move wipes the shine off recent risers, Gold, Silver, Platinum and Palladium; all dipping 1.3% to 2%. Also Crude dipped by nearly 1.5% as the Dollar threatened to retrace back into a more positive territory. The move might be short-lived though, with every failure to break this key resistance zone adding to the likelihood that the Dollar will endure further decline.

Author: Stuart Langelaan

Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

    More News & Analysis

    Weber IPO: what you need to know

    Weber enjoyed record sales during the pandemic. Now it plans to IPO, is this global BBQ grill maker a good investment?

    Robinhood IPO: what you need to know

    The long-awaited Robinhood IPO is imminent. Is this a savvy investment? How does Robinhood make money and is its business model sustainable?