June, 2019

Mini U.S. Dollar Index®
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  • The rapid decline in U.S. interest rates hit the dollar in June.  The ICE U.S. Dollar Index® fell from 98 at the beginning of the month to mid-95 area towards the end, the worst showing for the index since August/September 2018.
  • Global uncertainty around trade, geopolitical concerns in Iran and elsewhere, and the decline in rates outside the U.S. helped put a floor under the dollar’s fall.
  • Safe-haven currencies were the biggest beneficiaries in June.  JPY pushed down to 106.75 against the dollar just prior to the start of the G-20 meeting in Japan before moving back to the high 107 level at month end.  CHF rose from parity versus the greenback to end the month with a 0.97 handle.  CAD, traditionally a “commodity” currency, rose 4 cents to 1.3150, the strongest level since February, on the narrowing of the US-Canada rate gap.
  • Elsewhere, EUR briefly moved above $1.14 late in the month, the highest level in 3 months.  GBP remained weak on government and Brexit uncertainty, trading in a $1.25-$1.27 range in June.  CNY continued to hover near its 2019 lows, improving slightly as the U.S.-China trade rhetoric was toned down later in the month.
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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“U.S. Dollar Index®” and “USDX®“ are trademarks and service marks of ICE Data Indices, LLC or its affiliates (“ICE Data”) and has been licensed for use by ICE Futures Singapore in connection with the Mini USDX® Futures contract. The Mini USDX® Futures contract is not sponsored, endorsed, sold or promoted by ICE Data.  ICE Data makes no representations or warranties regarding the advisability of investing in securities or futures contracts, and any such investment based upon the performance of the Index particularly, or the ability of the Index to track general stock market performance.

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