Top Gainers and Losers: the British pound and the American dollar | IFCM Tanzania
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Top Gainers and Losers: the British pound and the American dollar

17/3/2023

Top Gainers - global market

Over the past 7 days, the US dollar index has slightly decreased. After difficulties in the US banking system due to the possible bankruptcy of Silicon Valley Bank and Signature Bank, investors do not rule out a slowdown in the pace of the Federal Reserve System's (FRS) rate hike. According to CME FedWatch, the probability of a 0.25% increase in the rate is approximately 75% at the next Fed meeting on March 22. Previously, a 0.5% increase was expected, but this option is not even considered by forex market participants. The probability of the FRS keeping the interest rate at its current level of 4.75% is estimated at 25%. This has increased investors' interest in gold. The British pound strengthened in anticipation of a Bank of England rate hike to 4.25% from the current level of 4% at the meeting on March 23. The yen was supported by good economic statistics. Japan's trade balance deficit in February shrank to its lowest level since April 2022.

1. Gold vs Light Sweet Crude Oil (WTI), +18.4% – gold instrument: gold vs US oil

2. USVIX, +17.4% – VIX index (CBOE volatility index)

market sentiment ratio long short positions

Top Losers - global market

1. KeyCorp – American bank and financial holding.

2. Alcoa Corp. – American aluminum producer.

market sentiment ratio long short positions

Top Gainers - foreign exchange market

1. USDMXN, EURMXN - the growth of these charts means the strengthening of the US dollar and euro against the Mexican peso.

2. GBPUSD, GBPCAD - the growth of these charts means the weakening of the US and Canadian dollars against the British pound.

market sentiment ratio long short positions

Top Losers - foreign exchange market (Forex)

1. CADJPY, EURJPY - the decline of these charts means the weakening of the Canadian dollar and the euro against the Japanese yen.

2. USDJPY, USDSEK - the decline of these charts means the strengthening of the Japanese yen and the Swedish krona against the US dollar.

market sentiment ratio long short positions

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Note:
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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