July, 2019

Mini U.S. Dollar Index®
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  • Relative stability in U.S. interest rates plus falling rates elsewhere allowed the ICE U.S. Dollar Index® to rise from below the 96 level to close out the month above 98, testing the 2019 highs.

  • The resumption of U.S.-China trade talks and good Q2 U.S. corporate earnings offset Middle East uncertainty resulting in calmer currency markets.

  • The Reserve Bank of Australia dropped short-term rates to an all-time low of 1%, causing the A$ to fall from $0.70 to $0.68 at month end.  The Kiwi (NZD) declined to $0.66 as markets anticipate another RBNZ cut at their meeting on August 7.

  • Elsewhere, unprecedented low interest rates in Europe pushed EUR below $1.12 for most of the month, falling below $1.11 on July 31.  EUR weakness coupled with a greater no-deal Brexit chance with the election of the new UK PM Boris Johnson has driven GBP down from $1.27 at the start of July to just below $1.21 by month end, tying the low mark seen on the day after the Brexit vote three years ago.
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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