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Daily Archives: October 16, 2009

Freeport McMoRan: Copper Comeback

October 16, 2009
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Freeport McMoRan: Copper Comeback

One of the most well defined trends out there is the downmove in the U.S. dollar.  If you look at the chart of the Powershares U.S. Dollar Index Fund (symbol UUP), it’s been steadily skidding for months. Honestly, that is not my favorite scenario longer term–a strong economy usually needs a stable currency.  (It doesn’t have to be rising, just holding its value compared to both other currencies and hard assets.)  However, right now, the decline in the dollar is helping some U.S. multinational companies, as well as boosting the value of commodities, which were decapitated during last year’s...

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