Dollar Weakens...And So Do Commodities (FCX, X, AA)

The U.S. dollar is coming under pressure today after soft inflation and economic data spurred worries that the U.S. recovery may be sputtering out. Data today showed the third straight monthly decline in producer prices. The PPI now has its longest losing streak since the worst days of the financial crisis in late 2008. The New York Fed's Empire state survey and the Philadelphia Fed survey both came in weaker than expected, signaling manufacturing is slowing. The euro is up 1.19% to 1.289 against the greenback. Usually a falling dollar means commodities will rise, but today that is not happening. Instead, investors are more concerned about deflationary pressures in the future. Oil is down 0.77% to $76.45 per barrel. Freeport-McMoRan FCX, a leading copper producer, is down $1.32, or 2.07%, to $62.34. Alcoa AA is down 14 cents, or 1.33%, to $10.77. U.S. Steel X is down 81 cents, or 1.87%, to $42.49.