Here is the answer: Cloud Computing Market Performance: The overall health and growth of the cloud computing industry significantly influence CLWD.PA. Positive industry trends often lead to higher ETF prices.

Underlying Holdings Performance: CLWD.PA's price is directly linked to the performance of the cloud computing companies it holds. Strong performance in these companies drives up the ETF's value.

Investor Sentiment: Market sentiment and investor demand play a crucial role. Increased demand pushes the price up, while decreased demand lowers it.

Economic Conditions: General economic conditions, such as interest rates and inflation, can impact CLWD.PA. A strong economy generally favors growth stocks like those in the cloud sector.

Currency Fluctuations: As CLWD.PA might hold international stocks, currency exchange rates can impact its price. Favorable currency movements can increase returns.

Fund Flows: The net flow of money into or out of CLWD.PA affects its price. Large inflows can push the price higher, while outflows can decrease it.

Expense Ratio: While not a direct driver of price, the expense ratio impacts the overall return to investors. A higher expense ratio can detract from gains.