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Factors affecting the trend of the US dollar index

The target asset of the U.S. dollar index (USDX) is the exchange rate of the U.S. dollar against six major international currencies (euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc), which is a comprehensive indicator to measure the exchange rate changes of the U.S. dollar in the international foreign exchange market , also known as the dollar index. 

Considering the different economic strengths of various countries, the U.S. dollar index is calculated using the "geometric weighted average method". 4.2% for the crown and 3.6% for the Swiss franc. Among them, the euro is the largest element, so the fluctuation of the euro has the greatest impact on the trend of the dollar, followed by other currencies.

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Indices FAQ

There are many ways to invest in the indices. For investors who want to invest for a long time and have low-risk tolerance, ETF may be a better investment.

If you’re not sure whether long-term holding is profitable, but you still want to find profit opportunities from market fluctuations. You can trade CFD( Contracts for Difference). You can open a Mitrade demo account for free to start trading now.

Trading CFD, investors can trade at least 0.01 lot. CFD allows you to go long or go short whether the market rise or fall, so it is possible to make a profit in the large price fluctuation. CFDs can be traded with leverage, allowing investors to hold more positions with less money.

There are thousands of indices on the market. However, for beginenrs, we would recommend to start with the below indices first.
- Dow Jones Industrials Average (US 30)
- Standard & Poor's 500 (S&P 500)
- Nasdaq (Composite and Nasdaq 100)
- Dow Jones Industrials (DJIA)
- UK FTSE 100 (FTSE 100)
- DAX (Germany 30)
- Euro Stoxx 50 (Euro 50)

To better manage your trading risk, below are some of the suggestions that may help.
1. Plan your trade.
2. Use the one percent rule.
3. Consider using the take profit/stop-loss trading options provided by brokers like MiTrade.
4. Diversify and hedge.

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