US Dollar Index Realtime Chart
The exchange also offers USDX options contracts with six different expiration dates, ranging from one month to one year in the future. GDP by industry and gross output estimates are released https://www.1investing.in/ with the third estimate of GDP. The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign.
Barchart Technical Opinion
Compared to the first quarter, the acceleration in real GDP in the second quarter primarily reflected an upturn in private inventory investment and an acceleration in consumer spending. These movements were partly offset by a downturn in residential fixed investment. In energy trading, benchmark U.S. crude lost 57 cents to $77.02 a barrel.
Real Time News
The Russell 2000 index of smaller stocks had leaped at least 1% in seven of the last 10 days, but dropped 2.1% on Wednesday. The larger challenge for Alphabet may have simply been how much its stock has already rallied, nearly 50% in the 12 months through Tuesday, on expectations for continual growth. Tesla was one of the heaviest weights on the market and tumbled 12.3% after reporting a 45% drop in profit for the spring, and its earnings fell short of analysts’ forecasts.
Gross Domestic Product, Second Quarter 2024 (Advance Estimate)
DailyFX Limited is not responsible 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 what is minority interest Dollar strengthens against these currencies and will fall if the Dollar weakens against these currencies. 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.
Why Does the Strong Dollar Matter?
The increase in real GDP primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2). West Texas Intermediate US crude Oil prices tick higher during the Asian session on Wednesday and moves away from the lowest level since June 6, around the $74.25 area touched the previous day.
Technical Summary
The Fed’s top priority in 2022 has been bringing down inflation from multi-decade highs, and its best weapon has been raising interest rates. The Fed has already raised the fed funds rate to a range between 3% and 3.25%. In fact, the Federal Open Market Committee (FOMC) has issued three consecutive large rate hikes of 75 basis points.
- In fact, the Federal Open Market Committee (FOMC) has issued three consecutive large rate hikes of 75 basis points.
- The dollar index tracks the relative value of the U.S. dollar against a basket of important world currencies.
- For fourth quarter estimates, these data are not available until the third estimate.
- We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances.
The euro is, by far, the largest component of the index, making up 57.6% of the basket. The weights of the rest of the currencies in the index are JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).
The update will present revised statistics for GDP, GDP by Industry, and gross domestic income. For details, refer to Information on 2024 Annual Updates to the National, Industry, and State and Local Economic Accounts. The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors were health care, housing and utilities, and recreation services. Within goods, the leading contributors were motor vehicles and parts, recreational goods and vehicles, furnishings and durable household equipment, and gasoline and other energy goods.
A 1% move for Nvidia packs more punch on the index than a 1% move for any company other than Microsoft or Apple. The problem for Wall Street is that even if more stocks were to rise, they’ll need to do so by more than Big Tech stocks are falling because of the group’s huge influence. At Alphabet, meanwhile, investors’ patience with the company’s big AI investments may also be running thinner. “The negative sentiment was exacerbated by disappointing earnings from Google and Tesla, ahead of other key reports from the ‘Magnificent Seven’ in the upcoming weeks. The tech sector could be under heavy pressure in Asia today,” said Anderson Alves at ActivTrades.
The U.S. Dollar Index (USDX) is a relative measure of the U.S. dollars (USD) strength against a basket of six influential currencies, including the Euro, Pound, Yen, Canadian Dollar, Swedish Korner, and Swiss Franc. The USDX can be used as a proxy for the health of the U.S. economy and traders can use it to speculate on the dollar’s change in value or as a hedge against currency exposure elsewhere. Unlike GDP, advance current quarterly estimates of GDI and corporate profits are not released because data on domestic profits and net interest of domestic industries are not available. For fourth quarter estimates, these data are not available until the third estimate.
