The U.S. dollar index is a basket of six major world currencies weighted against the greenback. See on the daily bar chart for the March USDX futures that prices are in a downtrend and have just hit a more-than-three-month low. Bears are in command to suggest still more downside pressure in the near term. The slumping U.S. dollar is a bullish element for the raw commodity sector, as most major raw commodities in the world are priced in U.S. dollars. When the dollar depreciates it makes those commodities cheaper to purchase in non-U.S. currency. Stay tuned!–Jim
