August, 2019

Mini U.S. Dollar Index®
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  • The rally in U.S. Treasuries during August didn’t weaken the dollar given global rates were down too. The ICE U.S. Dollar Index® held above its 50-day moving average, rising above 99 for the first time in two years on the final trading day of the month.
  • USD performed well against most major currencies in August as political uncertainty and threat of recession gave the dollar a boost.  EUR fell 3 cents on the month, dropping below $1.10 for the first time in 2 ½ years.  GBP also moved to a 3 year low below $1.20, dragged down by EUR and an increasing risk of a no-deal Brexit at the end of October.
  • Safe haven currencies, however, improved versus USD.  JPY began August above 109, but moved down to 104.50 (a two-year high against USD) on U.S.-China trade uncertainty before ending the month in the 106 area.  CHF stayed above parity all month, rising to 0.966 vs. USD before falling back to the 0.99 level.
  • Emerging market currencies suffered the most in August.  ARS ended the month down 25%.  Argentina announced mid-month that it was extending the maturities of some short-term debt in an effort to slow the outflow of hard currency.  That move sent the ARS down as much as 30% on Aug 31.  CNY dropped from 6.89 to 7.15 as the PBoC aggressively lowered its midpoint vs. the dollar, all against a backdrop of a steady stream of U.S.-China trade headlines.
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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