Traders use the U.S. dollar index to track the value of the USD against a basket of select currencies in a single transaction. They can also protect against currency risks using tradable derivatives of the index, such as USDX futures and options. Similarly, an index value of 80, indicating a fall of 20 from its initial value, implies a 20% depreciation in strength relative to the other currencies.

1. The BoJ rate-hike uncertainty, the upbeat market mood and elevated US bond yields cap the JPY.
2. The Barchart Technical Opinion rating is a 56% Buy with a Strongest short term outlook on maintaining the current direction.
3. Members of the central bank policy board are passing through a series of panels and hearings before being appointed to a policy board seat.
4. March was the third straight month of hotter-than-expected inflation readings.
5. The US dollar, meanwhile, continued its surge on Friday, with the dollar index rising to an intraday high of $108, representing its highest level since November 2022.
6. Just as important as the trade effects of a rising American currency is the financial feedback.

Barchart Technical Opinion

Earlier on Friday, the final reading for the German Gross Domestic Product (GDP) was downwardly revised to 0.1%, which means that the Eurozone’s largest economy barely grew in the third quarter. Change the symbol either by entering a new symbol in the chart form, or by entering a new symbol in the Search box at the top of the page. Typing any character that can be a symbol also focuses your cursor in the symbol search box. Interactive Charts were designed to remember and retain your personalized settings when you are logged into the site. Any tool added to a chart is always saved and will be displayed next time you access that specific chart.

The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. The Japanese Yen struggles to capitalize on stronger domestic How to buy kava inflation-inspired intraday uptick.

Key data points

Overnight (Globex) prices are shown on the page through to 7pm CT, after which time it will list only trading activity for the next day. Once the markets have closed, the Last Price will show an ‘s’ after the price, indicating the price has settled for the day. The page will always show prices from the latest session of the market. The U.S. dollar index is trading sideways, just above the psychological 100 level. While 100 is not technical support for the metric that measures the U.S. currency against other like-minded foreign exchange… I don’t think you’re going to have a weakening of the dollar until you have more convergence in growth or in monetary policy.

Trending Indices

Federal Reserve in 1973 after the dissolution of the Bretton Woods Agreement. It is now maintained by ICE Data Indices, a subsidiary of the Intercontinental Exchange (ICE). The list of symbols included on the page is updated every 10 minutes throughout the trading day. However, new stocks are not automatically added to or re-ranked on the page until the site performs its 10-minute update. The New Highs/Lows widget provides a snapshot of US stocks that have made or matched a new high or low price for a specific time period. Stocks must have traded for the specified time period in order to be considered as a new High or Low.

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With Nvidia the last remaining high-profile firm to report results earlier this week, investors can now assess the big takeaways from earnings season. But the robustness of America’s economy isn’t the only thing lifting the US dollar. The mighty US dollar flexed some muscle last week in a positive sign for Americans’ purchasing power. For example, currencies such as the Chinese yuan (CNY) and Mexican peso (MXN) may replace others in the index, given the significance of China and Mexico as key U.S. trading partners. The six currencies included in the USDX are often referred to as America’s most significant trading partners. Most data tables can be analyzed using “Views.” A View simply presents the symbols on the page with a different set of columns.

The US Dollar Index (DXY) is edging up, sparked by those European PMI numbers that reveal the whole Eurozone is in contraction. Pending US PMI data to be released later today, it looks like the performance gap between Europe and the US just got bigger in favor of the United States. Look out for some profit-taking ahead of the weekend, which might trigger a fade by the US closing bell on Friday evening.

Just as important as the trade effects of a rising American currency is the financial feedback. For countries and firms that have borrowed in dollars but lack sources of dollar revenue, a rising greenback mechanically bloats their debt burden and atfx review boosts their interest costs. Higher interest rates in America, coupled with a rising dollar, also makes investing in the rest of the world less attractive. Capital tends to flow out from emerging markets, forcing them to raise interest rates as well, tightening monetary conditions just when their economies may start to suffer from a general trade slowdown.

History of the USDX

The appreciation and depreciation results are a factor of the time period in question. The USDX uses a fixed weighting scheme based on exchange rates from 1973 that heavily weights the euro. As a result, the biggest movements tend to happen in response to fluctuations of the euro. As part of the agreement, participating countries settled their balances in U.S. dollars (which was established as the reserve currency), while the USD was fully convertible to gold at a rate of $35/ounce. This tool will download a .csv file for the View being displayed.

The US economy’s remarkable strength is a big reason behind the dollar’s rally over the past week. At that point, other countries were able to choose any exchange agreement other than the price of gold. In 1973, many foreign governments chose to let their currency rates float, putting an end to the agreement. The index is affected by macroeconomic factors, including inflation/deflation in the dollar and foreign currencies in the basket, as well as recessions and economic growth in those countries.