{"id":4416,"date":"2016-02-10T06:51:42","date_gmt":"2016-02-10T11:51:42","guid":{"rendered":"http:\/\/www.morpheustrading.com\/blog\/?p=4416"},"modified":"2022-04-06T15:05:02","modified_gmt":"2022-04-06T19:05:02","slug":"uup-dollar-weakness","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/uup-dollar-weakness\/","title":{"rendered":"2 Hot ETFs To Buy While The US Dollar Is Weakening"},"content":{"rendered":"

\"$UUP\"On February 4, I walked through a few charts that showed why it was time to buy Gold ETFs<\/a> (or any other form\u00a0of gold).<\/p>\n

In the four trading days since that previous blog post, SPDR Gold Trust ($GLD)<\/strong>, a popular ETF proxy for the spot gold commodity, has cruised 4% higher.<\/p>\n

The\u00a0S&P 500 and NASDAQ Composite indices tumbled 3.2% and 5.2% respectively during the same period, which is a\u00a0great example of why it pays to trade ETFs<\/a> with a low correlation to the direction of the stock market when equity sentiment turns bearish.<\/p>\n

Since\u00a0gold is often\u00a0viewed as a “flight to safety” play when stocks are weak, it’s likely that bullish momentum in\u00a0$GLD will continue in the near to intermediate-term.<\/p>\n

But even better is that strength in $GLD is now backed by weakness in the US Dollar, which has created another new buying opportunity in the Japanese Yen ETF ($FXY).<\/strong><\/p>\n

Here’s why it’s time to buy $FXY (and $GLD on a pullback)…<\/p>\n

\n
\n

TABLE OF CONTENTS<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n