By The Numbers

Dollar Rebound? Wait At Least Another 10 Months
The Dollar Index chart provides some insights into the decline of the U.S. dollar, and ultimately its position as a global reserve currency.

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CNBC ON DIGG

Commodities on Fire

Published: Monday, 3 Aug 2009 | 4:29 PM ET

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By: Robert Hum
Markets Producer

The U.S. Dollar continues its slide, with the Dollar Index falling to its lowest levels since the end of September. The index is now down 14 percent from its March highs.

Capitalizing on this dollar weakness are commodities. The CRB Index, containing a basket of various hard commodities, had its highest close since last November, and has risen 15% in just under 1 month.

While much attention has been given to the summer rally in the equities markets, commodities have strung together a nice rally of their own since July 8.

Stocks Break Out Worldwide

Meanwhile, stocks overseas and here in the U.S. are breaking out to multiple-month highs. The S&P 500 [.SPX Loading... () ] closed above 1,000 for the first time since Election Day (last November 4), and has now moved 48% off its March 9 closing low and is a full 50% off its intraday low of 666 set on March 6.

The picture overseas is brighter too – take a look at the new highs for many international indices:

The Dow [.DJIA Loading... () ] closed today's trading session at its highest level since November 4, 2008. Alcoa (AA), Travelers Companies (TRV), Bank of America (BAC), DuPont (DD), and Cisco Systems (CSCO), had the largest percent gains among the 30 components in the equity index.

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