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Is it time for the U.S. Dollar Index to Rally?

Currencies / US Dollar Jul 12, 2010 - 02:14 PM GMT

By: INO

Currencies

Best Financial Markets Analysis ArticleThe dollar index, which put in a strong performance in the first six months of the year, pulled back from its recent highs and appears to be in defensive mode.

If you are not familiar with the US dollar index (USDX), it is an index, or measure, of the value of the United States dollar relative to a basket of foreign currencies.


Its weighted geometric mean of the dollar's value is compared with these currencies in the following percentages:

    * Euro (EUR), 57.6% weight
    * Japanese yen (JPY), 13.6% weight
    * Pound sterling (GBP), 11.9% weight
    * Canadian dollar (CAD), 9.1% weight
    * Swedish krona (SEK), 4.2% weight
    * Swiss franc (CHF) 3.6% weight

In this short educational video, I point out what we see in the dollar index and the reason why we think a potential rally may be in the foreseeable future.

As always our videos are free to watch and there is no need for registration.

If you'd like to make a comment on this or any of our videos, please go to the Trader's Blog and let us know your thoughts.

All the best,

Adam Hewison
President, INO.com
Co-creator, MarketClub

By INO.com

INO and Quote Providers furnish quotes and market analysis without responsibility for accuracy and is accepted by the site visitor on the condition that transmission or omissions shall not be made the basis for any claim, demand or cause for action. The information and data was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options..

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