The dollar also has a negative historical correlation to fiat currency alternatives, such as gold and Bitcoin. While the U.S. dollar has rallied in the past year, the prices of Bitcoin and gold have fallen. “The dollar tends to weaken when rates decline, supporting the earnings of companies with offshore operations. DataTrek Research co-founder Nicholas Colas says a strong dollar makes life particularly difficult for tech stocks, which generate about 58% of revenue outside the U.S.

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The top stocks Bank of America found were helped by the rising dollar include Huntington Ingalls Industries (HII), Darden Restaurants (DRI) and Clorox (CLX). Investors can also monitor how strong the dollar is relative to specific currencies. The Reserve Bank of New Zealand (RBNZ) meets on Wednesday, May 22, 2024. We preview what to expect from the meeting and its possible impact on the NZD/USD. Follow the rate of the US Dollar Index (DXY) in real-time at to spot the best trading opportunities.

  1. The Reserve Bank of New Zealand (RBNZ) meets on Wednesday, May 22, 2024.
  2. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples.
  3. U.S. investors typically measure the value of goods, services and investments in dollars.
  4. In 1973, many foreign governments chose to let their currency rates float, putting an end to the agreement.

News & Analysis

Wayne Duggan has a decade of experience covering breaking market news and providing analysis and commentary related to popular stocks. News & World Report and a regular contributor for Forbes Advisor and USA Today. That type of leveraged and inverse fund can help traders generate sizable short-term returns, but they are not designed to be held as long-term investments.

US Dollar Index (DXY) Price Value Chart Today

At the end of 2019, the DXY traded at 96.5, meaning that the US dollar has slightly depreciated versus the basket of currencies since its establishment in 1973. The US Dollar Index spot price increases when the USD exchange rate strengthens its position in comparison to other currencies. 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.

US Dollar Index Futures News

President Richard Nixon decided to temporarily suspend the gold standard, at which 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. We also look at an exchange-traded fund whose value is directly linked to the dollar by tracking the U.S. Dollar Index (USDX), which measures the value of the greenback versus a basket of six key foreign currencies.

In contrast, certain stocks have a track record of being helped by the rising dollar—we name names later on. West Texas Intermediate crude Oil continues its losing streak for the third consecutive day, trading around $77.50 per barrel during the Asian session on Friday. Traders are likely awaiting the upcoming meeting of the Organization of the Petroleum Exporting Countries and its allies, including Russia (OPEC+), scheduled for June 2. US weekly initial unemployment claims rose +3,000 to 219,000, showing a slightly weaker labor market than expectations of 217,000.– Most Asian currencies drifted lower on Friday, with the Chinese yuan moving back towards six-month lows after disappointing business activity readings, while the…

Key data points

The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy. The dollar index measures the U.S. currency against the other leading reserve currencies.

By Joice Alves LONDON (Reuters) -The dollar firmed on Friday as traders await key inflation data after a downward revision to first-quarter U.S. economic growth suggested the… The USDX uses a fixed weighting scheme based on exchange rates in 1973 that heavily weights the euro. As a result, expect to see big moves in the fund in response to euro movements. The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to a basket of foreign currencies. Federal Reserve in 1973 after the dissolution of the Bretton Woods Agreement.

Simply put, if the USDX goes up, that means the U.S. dollar is gaining strength or value when compared to the other currencies. In the coming years, it is likely currencies will be replaced as the index strives to represent major U.S. trading partners. It is likely in the future that currencies such as the Chinese yuan (CNY) and Mexican peso (MXN) will supplant other currencies in the index due to China and Mexico being major trading partners with the U.S. The US Dollar is the single most popular currency in the world, and is the dominant reserve currency in use around the globe.

US Apr pending home sales fell -7.7% m/m, weaker than expectations of -1.0% m/m and the biggest decline in more than three years. The dollar index (DXY00) Thursday fell back from a 2-week high and finished down -0.37%. Thursday’s dovish US economic reports knocked T-note yields lower and weighed on the westernfx review dollar. The dollar remained lower Thursday on dovish comments from Atlanta Fed President Bostic and New York Fed President Williams. Gold Falls by 1% as US Dollar StrengthensGold (XAU) dropped by 1% on Wednesday as the US Dollar Index (DXY) and Treasury yields strengthened ahead of the US inflation…

The hawkish remarks of the Fed officials are keeping the US Dollar stronger. On Thursday, the US Dollar Index (DXY) experienced a retreat after a sharp recovery on Wednesday. The gains linked to the bond market surge on Wednesday are now being undone following the release of US Gross Domestic Product (GDP) revisions and soft Jobless Claims figures.

However, other markets are screaming the dollar index is losing value even though it has posted a slight gain. Many groups are piling into gold, including central banks and sovereign governments. Gold has also become very popular among individual Chinese investors and family offices that cater to the global rich…. US Q1 GDP was revised downward to +1.3% (q/q annualized) from +1.6%, right on expectations.

The euro is, by far, the largest component of the index, making up 57.6% of the basket. The weights of the rest of the currencies in the index are JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%). Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas’ experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning.

This is to be expected since the average includes data from the previous, lower priced days. As long as prices remain above the average there is strength in the market. In theory, the direction of the moving average (higher, lower or flat) indicates the trend of the market. Many trading systems utilize moving averages as independent variables and market analysts frequently use moving averages to confirm technical breakouts. Historically, rising interest rates and a strong U.S. dollar have been bearish for gold prices. These financial products currently trade on the New York Board of Trade.

The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies. Plan your technical analysis of the US Dollar Index by tracking its price in the chart and keep up with the latest market movements with news, advice pieces, and the dollar index forecast. In addition, there are several ways for investors to profit directly from the rising dollar. The Invesco DB US Dollar Index Bullish (UUP) exchange-traded fund invests in U.S. The UUP has $1.3 billion in assets under management and it averages more than 3.8 million shares of daily trading volume. The US Dollar Index (DXY) serves as a benchmark for measuring the relative value of the American dollar to a basket of currencies of the US’s key trading partners.