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FXCM Forex Baskets: a great way to speculate on volatile instruments


11 May 2021

Trade Yen, USD and emerging markets indices. Speculate on volatile instruments, while lowering the risk of exposure to just one currency. 

The index basket

The Dow Jones FXCM Dollar Index Basket (USDOLLAR) was developed by traders for traders allowing you to take advantage of US Dollar appreciation or depreciation with precise tracking and maximum liquidity.

The index basket is designed to be as easy to understand as it is to trade. It reflects the change in value of the US dollar measured against a basket of the most liquid currencies in the world.

The Dow Jones FXCM Dollar Index began on January 1, 2011, at a value of 10,000. It represents an equivalent $10,000 position in each of the currencies that make it up. It rises when the Dollar rises against the Euro, the British Pound, and the Australian Dollar and falls as the Dollar depreciates compared to these currencies.

JPYbasket – the yen index

The JPYBasket ("Yen Index") is a Japanese Yen benchmark and is designed to reflect the change in value of the JPY against a basket of major world currencies. The Index was developed by FXCM.

The JPYBasket began on January 2, 2019, with a rate of 10,000. It represents an equivalent ¥200,000 position in each of the currencies that make up its components for a total starting value of ¥1,000,000.

It rises when the Yen strengthens against the US Dollar, Euro, the British Pound, Canadian Dollar and the Australian Dollar and falls as the Yen weakens compared to these currencies. In order for the Index to have a starting value of 10.000, the JPY basket uses divisor of 100. For example, if you Buy 1 contract and subsequently the Yen strengthens and the Index rate increases from 10,100 to 10,101, you will earn exactly 100JPY for every point change (or equivalent value in your account denomination).

Embasket – the emerging markets index

The EMBasket ("Emerging Markets Index") is an Emerging Markets benchmark and is designed to reflect the change in value of the USD against a basket of minor world currencies. The Index was developed by FXCM. The EMBasket began on January 2, 2019, with a value of 10,000.

It represents an equivalent $2,500 position in each of the currencies that make it up. It rises when these currencies strengthen against the US Dollar and lowers as they weaken.

The EMBasket is a great way to speculate on often volatile instruments while lowering the risk of taking exposure on just one currency.

#source

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