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Dollar index (USDX) extends gains above 101 as oil prices rise further
The US stock markets have been open for around 20 minutes now and once again we have a stark contrast between the cyclical/industrial stocks and the tech sector. So, the Nasdaq 100 is once again outperforming. Elsewhere the dollar has gained further and so have oil prices. Brent crude has now extended its move to above $91.50 and that is helping the US currency and denting precious metals.
The upshot is the dollar index has lifted above the high seen yesterday, at 101.02. The index has reached 101.13 so far. It is just off that high now though, currently trading at 101.07
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