Overnight, the dollar weakened against some of the major currencies, as reports said many investors were feeling the need to take a few more risks and escape the relative safety of the greenback.
Still, the dollar was making a turn this morning following a mix of economic data. Earlier today, news broke that U.S. home prices may have fallen at a slower rate than projected. Adding to that was surprising news that consumer confidence fell in June, sending many shares tumbling in the early going.
The British pound rose to an eight-month high against the dollar earlier today, only to fall back later. A report from the Office of National Statistics showed that the U.K. economy slipped 2.4% in the first quarter, which was more than the previous GDP forecast of 2.2%.
In currency ETF news, CurrencyShares British Pound Sterling (FXB) was losing 0.8% by late morning.PowerShares DB G10 Currency Harvest (DBV) slipped 7 cents to $21.48 in the morning. The PowerShares DB U.S. Dollar Index Bullish (UUP) was ticking up 13 cents at $23.94, while PowerShares DB U.S. Dollar Index Bearish (UDN) was losing 15 cents at $26.72. Because of changes to the currencies since yesterday's update, today may be the day to swing into London to buy a ticket. With Harry Potter and the Half-Blood Prince not set to open there until July 7th, there is perhaps an off-chance to catch a sneak-preview there. And really, where else would you want to see the story of wizards and muggles but in the land that gave birth to it? Here's a rundown of our global ticket prices, reflecting currency swings since yesterday's update:
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV