Индекс USD (DXY)
Investing.com — В пятницу цены на золото выросли до 3-месячного максимума на фоне устойчивого спроса на безопасные активы, вызванного опасениями по поводу войны между.
- От Investing.com
- • 16 окт. 2023 г. •
Investing.com — В понедельник цены на золото упали, изменив курс после того, как возросший спрос на безопасные активы вызвал серию сильного роста цен на желтый металл; при.
- От Investing.com
- • 11 окт. 2023 г. •
Investing.com — Европейские фондовые индексы в среду торгуются волатильно: Ibex, CAC 40, DAX очень внимательно следя за протоколом последнего заседания ФРС США по денежно-кредитной.
Аналитика по Индекс USD
- От Артём Гелий
- • 1 ч. назад
Прогноз форекс, акций и криптовалют на 23 — 25 октября 2023: eurusd, gbpusd, audusd, nzdusd, usdcad, usdchf, usdjpy, индекс доллара, usdrub, доллар, рубль, юань, cnyrub.
- От Егор Сусин
- • 11 ч. назад •
По интернетам разлетелось, что юань обошел евро в расчетах – это, конечно, не так, по крайней мере, по данным SWIFT (которая видит далеко не все платежи в юанях). Если.
- От Артур Идиатулин
- • 19 окт. 2023 г.
Доходности казначейских облигаций переписали недавние локальные максимумы, вынудив инвесторов в акциях вновь пересмотреть справедливую оценку. Доходность 10-летней облигации.
How to Use the US Dollar Index (DXY) in Forex Trading?
In this article, you’ll be introduced to the US Dollar index, which shows dynamic patterns of the American currency and helps to find additional signals for Forex trading.
What is the US Dollar index?
The US Dollar index (DXY or USDX) is an aggregated indicator of the leading global currency cost relative to a basket of other foreign currencies. Technically, the index can be compared with stock indices, such as Dow Jones or S&P 500. Stock indices track the stock market, while DXY shows the USD rate relative to other currencies and its current calculated value.
The US Dollar index started trading in 1973, soon after the dismantling of the Bretton Woods system. Its base value was 100.00. For example, if the index grows up to 110.00, it means that the value of the dollar increased by 10% relative to its base value. Starting from 1973, the index’s high was 160.00, while the year 2008 showed an all-time low at 70.00.
Apart from the major USD Dollar index, there are other indices: the Bloomberg dollar index, the Wall Street Journal dollar index, etc. All of them are be highly correlated to each other and measures the same thing (the US dollar value) but their calculation formulae are quite different, that’s why they show pretty close but not always the same results.
In this article, we’ll talk about the major and classic US Dollar index (DXY). However, the basic idea of any other US Dollar index will be pretty similar.
US Dollar index price chart
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What does the US Dollar index consist of?
The US Dollar index value is calculated as an average weighted geometric mean of the USD exchange rate relative to a basket of six foreign currencies. Each of these currencies belongs to a country, which is a key trade and economic partner of the USA. These currencies are used for calculating the US Dollar index with a different weight percentage:
- Euro (EUR) – 57.6%
- Japanese Yen (JPY) – 13.6%
- Great Britain Pound (GBP) – 11.9%
- Canadian Dollar (CAD) – 9.1%
- Swedish Krona (SEK) – 4.2%
- Swiss Franc (CHF) – 3.6%
The US Dollar index rises when the USD rises relative to a basket of the above-mentioned currencies and vice versa. As one can see from the index structure, the Euro and other European currencies have the upper hand here.
Some analysts and economic experts believe that the basket for calculating DXY should be revised and added with other global currencies. It should help to reflect the fact that the USA is currently actively trading with such countries as China, South Korea, Mexico, Brazil, and Australia.
US Dollar index structure
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How to use the US Dollar index in Forex trading?
The US Dollar index is traded on exchanges in the form of non-deliverable contracts – futures and options, but it can also be used for trading on Forex because the USD is a part of major currency pairs. The DXY chart can be found on different analytical resources, for example, tradingview.com. let’s consider three ways of using the US Dollar index of Forex trading:
The US Dollar trend indicator
The US Dollar index is the key indicator that one should pay attention to when trying to define the current dollar tendency. As one can learn from the technical analysis course, “trend is our friend” and it is better to open orders in the direction of an active tendency. So, it is necessary to open the US Dollar index chart and define the current trend direction. Trading recommendations are as follows:
- If DXY shows a stable uptrend, one should look for opportunities to buy the USD against other currencies and vice versa.
- If DXY is moving within the downtrend, one should look for opportunities to sell the USD against other currencies.
US Dollar index — trend indicator
Trading correlated currency pairs
The US Dollar index chart can be used not only for assessing the current USD trend but also for finding additional trading signals. Since many traders and investors both keep track of the US Dollar index and trade it (using futures and options), support and resistance levels, as well as price patterns on the US Dollar index chart, have also a significant influence on the currency market.
Correlated currency pairs are the pairs that move in the same direction as the US Dollar index. In such pairs, USD is the first currency:
- USD/CHF – US Dollar / Swiss Franc.
- USD/JPY – US Dollar / Japanese Yen.
- USD/CAD – US Dollar / Canadian Dollar.
- Find a completely formed technical analysis pattern on the DXY chart.
- Choose a correlated currency pair with a similar technical picture.
- For pattern materialization, open a position in a correlated currency pair in the direction of the index.
- In the H1 chart of DXY, there is a formed pattern for selling, Head & Shoulders.
- In the H1 chart of a correlated currency pair, USD/JPY, there is a similar pattern for selling, Triple Top.
- After the index breaks the Head & Shoulders pattern to the downside, open a short position in USD/JPY.
- Place Stop Loss and Take Profit according to the rules of trading technical analysis patterns.
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Trading currency pairs with an inverse correlation
Currency pairs with an inverse correlation are the pairs that move in the direction opposite to the US Dollar index. In such pairs, USD is the second currency:
- EUR/USD – Euro / US Dollar.
- GBP/USD – Pound / US Dollar. – Australian Dollar / US Dollar. – New Zealand Dollar / US Dollar.
- Find a completely formed technical analysis pattern on the DXY chart.
- Choose a currency pair with an inverse correlation with a similar technical picture.
- For a pattern materialization, open a position in a currency pair with inverse correlation in the direction opposite to the index.
- In the H1 chart of DXY, there is a formed pattern, Triangle.
- In the H1 chart of a currency pair with an inverse correlation, AUD/USD, there is a similar price pattern.
- After the index breaks the Triangle pattern to the downside, open a long position (in the direction opposite to the index) in AUD/USD.
- Place Stop Loss and Take Profit according to the rules of trading technical analysis patterns.
Closing thoughts
The US Dollar index is a very important macroeconomic indicator that reflects the current dynamics of the American currency relative to its base value of 100.00. The index movement is closely watched by many traders, analysts, and economic experts. DXY can be used for defining the current tendency in the US Dollar and finding trading signals on Forex. For trading, one can use significant support and resistance levels, price patterns, Price Action patterns.
What is the US Dollar Index (DXY) and how to trade it?
The US Dollar Index is a measure of the value of the dollar against six other major currencies.
The index was created to help traders understand how strong or weak the U.S. dollar is in relation to foreign currencies such as the Euro, Canadian Dollar, and Japanese Yen. It can be used by forex traders looking for a tool that gauges whether it’s time to buy or sell currencies based on what’s happening with other world markets.
Continue reading to find out exactly how the US Dollar Index is calculated, how you can trade this index , and why it is so important for forex traders to monitor.
What is the US Dollar Index?
The US Dollar Index is a measure of the value of the United States Dollar relative to a basket of foreign currencies. The basket of currencies consists of the Euro, Swiss Franc, Japanese Yen, Canadian Dollar, British Pound, and Swedish Krona.
What is the US Dollar Index symbol?
You can trade the US Dollar Index as a Future CFD with Axi.
It is listed as USDX / DXY / USDINDEX.fs in MT4.
How to trade the US Dollar Index?
You may trade the USINDEX.fs Monday to Friday — there is a daily break from 23:58 to 03:00 (MT4 server time). The minimal volume is 0.01 lots, while the maximal volume is 2 lots. No swap charges apply as the CFD is based on a futures contract.
Simply sign up for a demo trading account to practice trading the USINDEX.fs, or if you are ready to jump into the world of trading, get yourself a live trading account .
Why was the US Dollar Index created?
It was created shortly after the Bretton Woods Agreement collapsed, and its intention was to track the dollar’s performance compared to the currencies of the main US trading partners. Since the 1980s, it has become tradable as a futures contract, and speculators have been using it as a way to speculate on the movement of the US Dollar against a basket of other major currencies.
How is the US Dollar Index calculated?
The USDX is a weighted geometric mean of the dollar’s value compared to:
- Euro (0.576)
- Japanese Yen (0.136)
- Pound Sterling (0.119)
- Canadian Dollar (0.091)
- Swedish Krona (0.042)
- Swiss Franc (0.036)
History of the USDX
The US Dollar Index was originally created by the U.S. central bank in 1973 to provide an external bilateral trade-weighted average value of the Greenback. This was triggered by the end of the gold standard and the floating of currency exchange rates.
The Bretton Wood Agreement created a new monetary system in 1944, after which the U.S. Dollar rose to become the world’s most important currency. Under the agreement, the countries would keep fixed exchange rates between their own currency and the U.S. Dollar.
The collapse of the system began in 1971 as the United States suffered from stagflation. President Nixon decided to unpeg the value of the dollar from gold, thus ending the Bretton Woods agreement.
Why is the US Dollar Index important for traders to know
Investors are keeping an eye on the U.S. Dollar Index as it allows them to monitor the value of the Greenback compared to a basket of major currencies. If a trader is convinced the US Dollar will appreciate across the board, it might be simpler to place a single trade betting on a rising US Dollar Index instead of having to manage multiple forex positions. Some market participants also use the US Dollar Index for hedging purposes. Find out more on how to trade indices to benefit from the USDX price movement.
What affects the price of the USD Index?
The Dollar Index is affected by the supply and demand for the US Dollar and currencies that are part of the basket. Some factors that could move the index are:
- Interest rates: Rising interest rates in the United States would make the U.S. dollar more attractive to investors, which would lead to an increase in the value of the index. On the other hand, should the market start to price in lower interest rates, the DXY would come under pressure.
- Risk sentiment: The US Dollar is traditionally seen as a safe haven. During times of market turbulence or crisis, the Dollar will most likely appreciate. The demand for the currency might decline during times when traders have a high-risk appetite.
- Macro fundamentals: The DXY reacts to news/data releases, just like the standard currency pairs. Traders need to take note of the weightings — for example, an unexpected rate move by the European Central Bank (ECB) would have a more significant impact on the US Dollar Index due to the large weighting the Euro has in the basket.
Is the USD Index adjusted from time to time?
Adjustments are done rarely.
The last major adjustment was made when the Euro was introduced. This is one of the reasons why the index has been criticised in the past. The list of major US trading partners has changed significantly over the past four decades, and it is indeed strange to see the Swiss Franc and Swedish Krona represented and not the South Korean Won, Brazilian Real, or Chinese Yuan — countries with which the United States already established significant trade relations.
European currencies are dominating the index, while Asian currencies are underrepresented. This is the reason why different Dollar indices consisting of a basket of other currencies might rise to prominence in the future.
What is the underlying instrument?
The USINDEX.fs is based on the US Dollar Index futures contract, which is being traded on the Intercontinental Exchange. The size of one US Dollar Index future is 1000 times the index value. Therefore, if we take the current price of 98.50, one contract would be worth $98,500.
Analysing the US Dollar Index
If you are using technical analysis in your trading, you can analyse the US Dollar Index in pretty much the same way you would do any for any type of currency pair or stock index.
Applying fundamental analysis might prove slightly more difficult, as you would have to take into consideration data and information from various countries. Interest rates play a big role, especially when there is increased speculation that the Federal Reserve might change the course of its monetary policy.
However, if a trader plans to use the US Dollar Index to bet on the direction of the Dollar, they must always be mindful of the basket and the weightings. If the US Dollar is expected to decline against the commodity currencies such as the Australian and Canadian Dollar — for example, due to negative news or slower economic growth in those markets — but not much against the Euro, the US Dollar Index would not be an appropriate product, as the CAD weighting is low, and the Euro weighting high.
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This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.
Milan Cutkovic has over eight years of experience in trading and market analysis across forex, indices, commodities, and stocks. He was one of the first traders accepted into the Axi Select programme which identifies highly talented traders and assists them with professional development.
As well as being a trader, Milan writes daily analysis for the Axi community, using his extensive knowledge of financial markets to provide unique insights and commentary. He is passionate about helping others become more successful in their trading and shares his skills by contributing to comprehensive trading eBooks and regularly publishing educational articles on the Axi blog, His work is frequently quoted in leading international newspapers and media portals.
Milan is frequently quoted and mentioned in many financial publications, including Yahoo Finance, Business Insider, Barrons, CNN, Reuters, New York Post, and MarketWatch.
Индекс силы доллара DXY: что показывает и зачем нужен
Индекс доллара является отношением доллара США (USD) к корзине из шести иностранных валют и представляет собой взвешенное среднее отношение доллара в сравнении с евро (EUR), японской йеной (JPY), фунтом стерлингов (GBP), канадским долларом (CAD), шведской кроной (SEK) и швейцарским франком (CHF).
Учитывая наличие в своем составе евро, индекс доллара содержит в себе валюты представленные 24 государствами.
Доли валют в индексе:
— Японская иена (JPY) — 13,6%
— Фунт стерлингов (GBP) — 11,9%
— Канадский доллар (CAD) — 9,1%
— Шведская крона (SEK) — 4,2%
— Швейцарский франк (CHF) — 3,6%
Этот индекс был создан компанией JP Morgan в марте 1973 года. В том году большинство торговых партнеров США ввели плавающий валютный курс, поэтому индекс DXY был очень полезен для оценки «силы доллара».
Индекс DXY по годам:
«сила доллара» сильно связана с ключевой ставкой ФРС и чем выше была ставка, тем дороже становился доллар и наоборот (ставки ФРС по годам).
Сейчас ФРС также поднимает ключевую ставку и индекс доллара начал быстро расти.
Конечно, далеко не только ключевая ставка влияет на силу доллара, но, на мой взгляд, это основной фактор.
Зачем США делает доллар дороже
США имеет огромный, просто чудовищный торговый дефицит (график по месяцам), который в этом году, скорее всего, превысит 1 трлн. $$$, а значит им выгодно иметь дорогой доллар, чтобы покупать больше на меньшее количество долларов. Тем самым они снижают свою инфляцию и частично перекладывают ее на другие страны.
В краткосрочной перспективе это выгодно, но это делает все менее конкурентоспособными своих производителей и провоцирует дальнейшее увеличение импорта, а не развитие своего производства, но всем плевать, так как им главное выборы в ноябре выиграть и главное показать снижение инфляции.