US Dollar Index Trading forecasts and signals

The US Dollar Index (USDX) is an index that shows the ratio of the value of the US dollar to the value of a basket of different currencies of countries that are the main trading partners of the United States. This index is similar to other trade-weighted indices that also use the exchange rates of the same major currencies. USDX is calculated based on the exchange rates of six major world currencies: Euro (EUR), Japanese yen (JPY), Canadian dollar (CAD), British pound (GBP), Swedish Krona (SEK) and Swiss Franc (CHF). The share of the Euro currency is the largest in the calculation of the dollar index indicator. It accounts for almost 57.6% of the basket of currencies. The share of other currencies in the USDX index is: JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%) and CHF (3.6%). The index dates back to March 1973, when it was decided to co-convert currencies relative to each other. At that time, the base value of the index was 100, and since then, the index values have changed relative to this base.