The U.S. dollar index is a basket of six major world currencies weighted against the greenback. See on the daily bar chart that the USDX has made a strong rebound this week, but is still in a near-term price downtrend. The USDX is an important “outside market” that has a daily price impact on many other markets. Reason: Most major world commodities are priced in U.S. dollars on the world markets. Changes in the value of the dollar influence the prices of products priced in dollars but which have to be purchased with non-U.S. currency. Stay tuned!