May, 2019

Mini U.S. Dollar Index®
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  • The dollar continued to improve throughout May, with the ICE U.S. Dollar Index® closing above 98 on the last three trading days of the month, the first such close in over two years.  Gains, however, were restrained by rapidly falling U.S. Treasury Yields, caused by trade uncertainty, low US inflation numbers and increased global recessionary concerns.
  • Traditional safe haven currencies performed well during the month.  CHF rallied back to parity against USD after touching a 2 year low at the end of April.  JPY started May around 112 versus the dollar but ended the month at 108.27, including an over 1 yen move on the last day of the month.
  • EUR managed to slow its decline against USD in May, but still ended at $1.1168.  The common currency traded in a relatively tight one-and-a half cent range for the month.  GBP, however, fell a full six cents to $1.26 against the greenback over the course of the month as PM May’s upcoming resignation on June 7 added to a continual stream of bad Brexit news.
  • The breakdown in trade talks between the U.S. and China pushed CNY from 6.74 to just above 6.90 at the end of the month.  CAD weakened to almost 1.36 versus the dollar, touching a level last seen on January 3, as slower growth figures in Canada may prompt the Bank of Canada to lower rates.  
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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