US bond yields are expected to continue their ascent over the next 3-6 months, according to analysts at Danske Bank....
USD
In this section, you will find important information on the US dollar index: news, actionable trading ideas, and a live DXY chart. All of which will help you understand the markets better.
What is USD?
USD is the financial abbreviation for the United States dollar. As its name suggests, it is the official currency used by the United States of America and its territories since the Coinage Act of 1792. It is governed by the Federal Reserve, otherwise known as the Fed. The Federal Open Market Committee (FOMC) is the board that decides on monetary policy.
Related currencies: USDMXN – USDNOK – USDRUB – USDSEK.
Most of the world’s currency reserves are in US dollars. This is why it is also dubbed as the global currency. The Bretton Woods System allowed countries to pegged their currencies to the US dollar. Consequently, central banks all over the world accumulated the currency in their vaults to help stabilize their economies after the Second World War.
It is then no surprise that among all currencies on the spot FX market, the US dollar is the most heavily traded. Its performance is often tracked through the US dollar index, with the most popular being the DXY index. It measures the value of the US dollar against a basket of 6 currencies. Namely, the following make up the basket: the euro makes up a huge percentage of it at 57.6%, followed by Japanese yen at 13.6%, the British pound is in third at 11.9%, the Canadian dollar makes up 9.1%. Meanwhile, the Swedish krona and Swiss franc make up the smallest portion of the basket at 4.2% and 3.6%, respectively.
More Related currencies: USDCAD – USDCHF – USDCNH – USDINR – USDJPY.
The DXY was introduced in 1973 when the Bretton Woods System was no longer in effect. The US dollar index also makes it easier for forex traders to see the general performance of the US dollar without needing to check its chart against its counterparts individually. It can also be used as a leading indicator. For instance, the DXY may already be testing a major resistance level. A forex trader can then use the information to look for potential trades to sell the US dollar against the yen or the euro, for example.
The USD Index has shed off some weight this Tuesday following the release of the US Consumer Price Index data. ...
The Producer Price Index (PPI) and its core component exceeded the expectations of analysts in March, coming in at 1.0%...
The USD Index remains at 2-week lows as investors stand pat in anticipation of the FOMC minutes, due for release...
Amid sliding bond yields, the USD Index has slumped to 2-week lows at 92.514. The DXY has failed to capitalize...
Economists at Westpac believe that the USD Index (DXY) could be poised to hit targets above 94.00, with 94.50 fingered...
The USD Index has reversed its earlier losses on the day and is now trading marginally higher. Having barely violated...
The USD Index continues its advance this Thursday as it ascends towards 4-month highs. Boosting the index are the following...
The USD Index (DXY) continues its ascent today, on the back of rising risk aversion which has pushed capital to...
The latest CFTC Positioning Report shows that speculators added to the number of existing gross long positions for the 5th...