Chart of the Day - Wednesday, July 31st, 2019
July 31, 2019
Today’s Chart of the Day was shared on Twitter by Jeroen Blokland (@jsblokland). It's a chart of the US Dollar Index ($DXY) breaking out to a two-year high today after the Federal Reserve announced their decision to cut interest rates by 25 basis points. For those unfamiliar with the US Dollar Index, it's used to measure the value of the US Dollar relative to a basket of the six major currencies (Euro, Swiss Franc, Japanese Yen, Canadian Dollar, British Pound, and Sweedish Krona.) Jeroen notes that if the Dollar continues to break out it will likely put pressure on Emerging Markets and Commodity prices.