The U.S. dollar was up last week against the euro out of fear of how debt problems in Greece and elsewhere in Europe will be resolved, and as a result gold had a tough week.

The dollar’s rally appears to be a short-term safe haven move, rather than a response to improving economic conditions in the U.S.

"For all the concern over the $1.6 trillion U.S. budget deficit and record debt load, the dollar is as valuable now as 35 years ago," Bloomberg News asserts.

This is just silly.

By Bryan McCormick

U.S. stock index futures are down this morning after a weak session in Asian markets, where Japan's Nikkei broke below 10,000. In the Eurozone, stocks briefly bounced at the open before heading lower.