April, 2019

Mini U.S. Dollar Index®
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  • The dollar made slow and steady gains in April, with the ICE U.S. Dollar Index rising from just below 97 to above 98  on two days later in the month. However, the index failed to close above the 98  level finishing the month at 97.22
  • USD performed well against the majors, touching a two-year high against EUR ($1.11) and rising to CHF 1.02 for the first time since the first week of 2017. GBP stayed in a narrow $1.30-$1.31 range as the Brexit decision was pushed out a few months.
  • CNY slipped during the month after the trade-talk inspired March rally.  Higher oil price didn’t provide a bid to the commodity currencies:  CAD dropped to below 1.35 for the first time since Jan 2, after the BoC signaled their next rate move may be lower.  AUD and NZD hovered near multi-year lows.
  • Emerging market currencies had an active April. President Erdogan’s party suffered a defeat in Turkish local elections, sending TRY lower and closing near 6 to the dollar, the highest level since October.  In Argentina, polls are showing that President Macri faces a tough bid for re-election in October as the country suffers through a recession and high inflation.  ARS skyrocketed into uncharted territory above 46 vs. USD.
Mini USDX® Front Month Performance (Current Year - Weekly) with Ichimoku Analysis

Hedging the U.S. Dollar in a Single Transaction

The Mini USDX® Futures contract offered by ICE Futures Singapore can be used to trade the ICE U.S. Dollar Index®. The ICE U.S. Dollar Index® (USDX®) futures contract is used by market participants to gain exposure to or hedge moves in the U.S. dollar relative to a basket of world currencies, in a single transaction.
  • Has a contract size of US $200 x index value
  • Helps achieve cost efficiency
  • Is accessible 22 hours a day
Customers in Asia can benefit from ICE Futures Singapore’s secure, regulated futures trading and clearing services. With local regulation and regional trading opportunities across financial and commodity futures, you can access markets locally that trade around the world.
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