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US Dollar Index (NYBOT) / (USDX) for Measuring Sentiment

US Dollar Index (NYBOT) / (USDX) can be used as an efficient tool for measuring market sentiment as well as for fundamental analysis.

What is US Dollar Index (NYBOT) / US Dollar Index (USDX)?

It is a measure of the value of the U.S. dollar relative to a basket of foreign currencies including euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. The index is a weighted geometric mean of the US dollar's value compared to the currencies in the basket using March 1973 as the base period (100). In forex trading, US Dollar Index is often used by traders to assess the strength of US dollar. As it is listed on ICE futures Exchange US (e.g., New York Board of Trade [NYBOT]), it is often referred to as US Dollar Index (NYBOT) or US Dollar Index (DX, ICE[NYBOT]). It is also called US Dollar Index (USDX).

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