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- Top Gainers / Losers
Top Gainers and Losers: New Zealand Dollar and Japanese Yen
Top Gainers - global market
Over the past 7 days, the US dollar index slightly corrected down after 4 weeks of continuous growth. Investors are waiting for new economic information that will help predict the Fed rate change (4.75%) at the next meeting on March 22. According to CME FedWatch, the rate could be increased by 0.25% with a 69% chance. On March 10, significant data on the labor market United States Nonfarm Payrolls for February will be released. Natural gas in the US has risen in price due to the gradual reopening of the Freeport LNG export terminal in Texas, which was damaged by a fire last year. The New Zealand dollar strengthened on the back of an increase in the Reserve Bank of New Zealand rate to 4.75% from 4.25%. Recall that inflation in New Zealand in the 4th quarter of 2022 reached 7.2% y/y. Data for the 1st quarter of 2023 will be released on April 19. The weakening of the Japanese yen contributed to the preliminary data on the decline in industrial production in January. In addition, inflation in Tokyo in February significantly decreased to 3.4% y/y from 4.4% in January. Investors do not rule out that this may prompt the Bank of Japan to maintain a negative rate (-0.1%) at a meeting on March 10.
1. Rolls-Royce Group plc, +36.7% – British manufacturer of aircraft and marine engines and equipment, as well as turbines for power generation
2. NATGAS, +23.2% – CFD on Henry Hub Natural Gas Futures (USA)
Top Losers - global market
1. Fast Retailing Co., Ltd. – Japanese clothing manufacturer and retailer
2. Downer EDI Limited – Australian company providing utilities and services. It is engaged in the management and construction of roads, electricity and gas supply, telecommunications and much more.
Top Gainers - foreign exchange market (Forex)
1. NZDJPY, NZDCHF - the growth of these graphs means the strengthening of the New Zealand dollar against the Japanese yen and the Swiss franc.
2. USDJPY, EURJPY - the growth of these graphs means the weakening of the Japanese yen against the US dollar and the euro.
Top Losers - foreign exchange market (Forex)
1. EURMXN, USDMXN - the fall of these graphs means the weakening of the euro and US dollar against the Mexican peso.
2. AUDUSD, EURPLN - the fall of these graphs means the strengthening of the US dollar against the Australian dollar and the Polish zloty against the euro.
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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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