Top Gainers and Losers: Canadian Dollar and South African Rand | IFCM
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Top Gainers and Losers: Canadian Dollar and South African Rand

4/21

Top Gainers 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

market sentiment ratio long short positions

Top Losers Top Losers - global market

1. China Merchants Bank Co., Ltd. – Chinese bank

2. Alibaba Group – Chinese online store.

market sentiment ratio long short positions

Top Gainers 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.

market sentiment ratio long short positions

Top Losers 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.

market sentiment ratio long short positions

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