The US Dollar Index (DXY) in FOX Professional
DXY measures the dollar against a basket of six currencies. FOX Professional uses the index to put dollar movements, currency pairs and other markets in context.
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The role of DXY
- The index basket: euro 57.6%, yen 13.6%, pound 11.9%, Canadian dollar 9.1%, Swedish krona 4.2%, Swiss franc 3.6%.
- The euro has the largest basket weight. Part of the relationship with EUR/USD follows from the index composition, so their agreement should be considered alongside other factors.
Relationships with currency pairs
- For dollar pairs FOX shows what drives a move: dollar strength or the other currency in the pair.
- For pairs whose currencies are not in the basket the relationship is checked on actual data, not assumed.
Intermarket analysis
- Correlation is calculated on returns of closed daily bars: a recent window is compared with a longer baseline.
- A weak or changing relationship is labelled as such.
The influence of bond yields
- Rising US yields relative to other countries usually support the dollar.
- FOX shows US and German yields and their differential next to the dollar's behaviour.
DXY as a confirming factor
- For dollar pairs FOX reports whether the dollar's behaviour confirms or contradicts the technical picture.
- There is no separate analytics page and no separate FOX View conclusion for DXY itself: the platform shows its quote and a technical block inside the dollar pairs.