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- Gold trades deep in negative territory below $2,170 on Friday as the persistent USD strength doesn’t allow XAU/USD to benefit from declining bond yields.
- The pair still looks to post small weekly gains after having pulled away from the record high it set above $2,220 on Wednesday.
- DailyFX Limited is not responsible for any trading decisions taken by persons not intended to view this material.
- Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples.
Gold trades deep in negative territory below $2,170 on Friday as the persistent USD strength doesn’t allow XAU/USD to benefit from declining https://www.forex-world.net/cryptocurrency-pairs/xlm-usd/ bond yields. The pair still looks to post small weekly gains after having pulled away from the record high it set above $2,220 on Wednesday.
A Look at the US Dollar Index
It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. DailyFX Limited is not responsible https://www.topforexnews.org/news/what-type-of-crm-do-forex-companies-need/ for any trading decisions taken by persons not intended to view this material. The US Dollar Index, also known as DXY, is used by traders seeking a measure of the value of USD against a basket of currencies used by US trade partners. The index will rise if the Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies.
The US Dollar Index
Plan your technical analysis of the US Dollar Index by tracking its price in the chart and keep up with the latest market movements with news, advice pieces, and the dollar index forecast. This fundamental information helps me understand what reports and indicators the economists of the world believe will shape future events. charterprime review is a scam or legit forex broker Over the last few months especially, there’s been a lot of focus in the world of Currency Trading upon the state of the US Dollar. No matter what your opinion is of the Greenback, it is still, without question, regarded as the world’s primary reserve currency and holds its weight of recognition across the board.
