- Analytics
- Top Gainers / Losers
Top Gainers and Losers: Canadian Dollar and South African Rand
Top Gainers - global market
Over the past 7 days, the US dollar index has not changed much. Investors expect the Fed to increase the rate by another 0.5% at the May 4 meeting. Now the rate is 0.5% and looks very low against the backdrop of strong US inflation in March (+8.5% y/y). The Canadian dollar strengthened on the Bank of Canada (BoC) rate hike to 1% from 0.5% last week. We note that in March, Canadian inflation reached 6.7% y/y and exceeded the forecast (+4.9% y/y). Theoretically, because of this, the rate hike could continue. However, the next meeting of the BoC will not take place soon - on June 1. The South African rand weakened amid poor economic performance. Inflation in South Africa reached 5.9% y/y. This is above the South African Reserve Bank rate, which is currently 4.25%. The next meeting of the bank will be on May 19. In addition, the decline in South Africa Mining Production by 6.4% m/m turned out to be worse than the forecast (-0.2% m/m). In general, against the background of the stabilization of the US dollar, there has been a slight decrease in prices for commodities. This had a negative impact not only on the South African rand, but also on the Australian and New Zealand dollars.
1.Marriott International, Inc., +16,6% – international hotel and timeshare chain
2. MOL (Mitsui OSK Lines, Ltd.), +14,7% – Japanese maritime transport company
Top Losers - global market
1. China Merchants Bank Co., Ltd. – Chinese bank
2. Alibaba Group – Chinese online store.
Top Gainers - foreign exchange market (Forex)
1. EURZAR, USDZAR - the growth of these charts means the strengthening of the euro and the US dollar against the South African rand.
2. CADJPY, CADCHF - the growth of these charts means the weakening of the Japanese yen and the Swiss franc against the Canadian dollar.
Top Losers - foreign exchange market (Forex)
1. USDRUB, EURRUB - the decline in these charts means the weakening of the US dollar and the euro against the Russian ruble.
2. AUDCAD, NZDCAD - the decline in these charts means the strengthening of the Canadian dollar against the Australian and New Zealand dollars.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
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