Government 10-Year benchmark bond yields (and US 3M/5Y/30Y).
Yield% is shown directly. Changes are in basis points (bps = 0.01%).
Positive bps = yields rising (bonds selling off).
Major FX Pairs — Cumulative Return vs Start (weekly, 1Y)
Relative Rotation Graph — FX Pairs vs USD Index
RS-Ratio (x) vs RS-Momentum (y), cross-sectional z-score normalised to 100.
Quadrants: Leading ·
Weakening ·
Lagging ·
Improving
The US Dollar Index (DXY) measures the USD against a basket of 6 major currencies.
It is the single most important macro signal for commodities, EM assets, bonds, and global capital flows.
DXY direction drives correlation across ALL asset classes.
💵 DXY Live Reading
DXY Now
101.43
-0.18% today
1-Month Change
+2.12%
~22 trading days
3-Month Trend
+1.79%
~66 trading days
Current Regime
Neutral — Watch direction
📊 DXY Weekly Chart (TradingView)
🎯 DXY Key Levels & Market Impact
DXY Zone
Label
Gold / Commodities
EM Currencies
US Bonds
US Equities
> 108
Strong USD
Strong headwind ↓↓
Capital outflow ↓↓
Demand (safe haven)
Multinationals hit ↓
104 – 108
Elevated
Headwind ↓
Pressure ↓
Neutral / mild +
Mixed
100 – 104
Neutral
Neutral — watch direction
Neutral
Neutral
Neutral
95 – 100
Weak USD
Tailwind ↑
Inflows ↑
Yields rise (sell)
Multinationals benefit ↑
< 95
Very Weak
Strong tailwind ↑↑
Strong inflows ↑↑
Inflation risk — sell ↓
Risk-on rally ↑↑
🔗 DXY Intermarket Relationships
Relationship
Direction
Why it Works
Key Exception
DXY vs Gold
Inverse ↔
Gold is priced in USD — a stronger dollar makes gold more expensive for foreign buyers, reducing demand
Safe-haven crises: both can rally together (2008, 2020 initial shock)
DXY vs Oil (WTI/Brent)
Inverse ↔
Oil is priced in USD globally — stronger dollar raises the real cost of oil for non-USD buyers, suppressing demand
OPEC supply shocks override the FX relationship
DXY vs EM Currencies
Inverse ↔
EM countries borrow in USD — a rising DXY increases their debt burden and triggers capital outflows to the US
Commodity-exporting EMs (BRL, ZAR) partially hedged by commodity rally
DXY vs US Bonds (TLT)
Positive ↔
Strong USD attracts foreign capital to US Treasuries, driving bond prices up (yields down)
Stagflation: USD may rise WITH yields rising (demand destruction)
DXY vs SPX
Mild Inverse
S&P 500 earns ~40% revenues internationally — a strong dollar erodes earnings when repatriated
Risk-off rallies: USD rises as investors flee equities INTO cash/bonds
DXY vs Silver
Inverse (stronger)
Silver has dual nature (monetary + industrial) — amplifies the gold/USD inverse relationship
Industrial demand surge can override if PMI data is strong
DXY vs Copper
Mild Inverse
Copper priced in USD — rising DXY raises costs for major importers like China
China PMI and demand signals often overpower the FX effect
⚖️ DXY Basket Composition
The DXY is weighted toward Europe — EUR movements alone drive ~58% of DXY moves. Always check EUR/USD when DXY is moving.
Currency
Pair
Weight
Country/Region
Key Driver
🇪🇺 Euro
EUR/USD
57.6%
Eurozone
ECB policy, Eurozone inflation, German PMI
🇯🇵 Yen
USD/JPY
13.6%
Japan
BoJ yield curve control, US-Japan rate differential