Top Gainers and Losers: euro and Australian dollar

Top Gainers - global market

Over the past 7 days, the US dollar index has again remained almost unchanged. Investors expect the Fed to raise the rate from 5% to 5.25% at the May 3 meeting. According to CME FedWatch, the probability of such an event is estimated at 86%. The dollar could be held back by weak preliminary growth of 1.1% q/q in the United States Gross Domestic Product in 1Q 2023 after rising 2.6% q/q in 4Q 2022. It was expected to increase by at least 2% q/q. The strengthening of the euro was supported by investors' expectations that the European Central Bank would immediately raise the rate by 0.5% to 4% from the current level of 3.5%. His meeting will be on May 4. The British pound rose in anticipation of an increase in the rate of the Bank of England at a meeting on May 11. The Australian dollar weakened as inflation fell to 7% y/y in 1Q 2023 from 7.8% y/y in 4Q 2022. Investors fear that the Reserve Bank of Australia will keep its rate at 3.6% at the May 2 meeting.

Top Losers - global market

1. ThyssenKrupp AG – German steel company

2. Alcoa Corp – American aluminum producer.

Top Gainers - foreign exchange market (Forex)

1. EURAUD, GBPAUD - the growth of these charts means the strengthening of the euro and the British pound against the Australian dollar.

2. EURCAD, EURNZD - the growth of these charts means the weakening of the Canadian and New Zealand dollars in relation to the euro.

Top Losers - foreign exchange market (Forex)

1. AUDJPY, AUDCHF - A drop of these charts means the Australian dollar is weaker against the Japanese yen and the Swiss franc.

2. CADJPY, USDPLN - the decline of these charts means the strengthening of the Polish zloty against the US dollar and the Japanese yen against the Canadian dollar.