Can It Get Any Better? No Jobs and a Weak Currency

ADP's employment numbers were released Wednesday morning. They were abysmal.

The payroll numbers missed estimates by more than 150,000. The Dow and the NASDAQ declined slightly on the news.

Previously, poor U.S. economic data has coincided with a bullish move in the U.S. dollar, as investors may have moved into cash as a safe haven.

Not Wednesday.

The dollar continued its recent trend of depreciation. The U.S. dollar index declined near 0.2% to fall below the $74.5 level. The dollar index is currently within a $1 range of its all time-low of near $73.6, a level it reached in early May.

Industrial commodities were down slightly, while gold moved strongly higher.

The move down in energy may not be enough to give unemployed Americans the relief they need at the gas pump and in the grocery store.

Are we witnessing a repeat of the 1970s? Is stagflation rearing its head?

Traders who believe that to be the case may wish to consider the investments that proved profitable in that economically tumultustous decade. Gold surged in the 1970s, as it is today. Traders looking to play further strength in gold might consider SPDR Gold Trust (NYSE: GLD). GLD may do well if gold continues on its present bull-run.