Against the current: Markets are down, yet USD/SGD & USD/JPY have maintained their composure as top gainers. These currencies are typically quiet, but showed up yesterday to record significant gains.
The leading indices are currently lower — GBP/USD trades at 1.1981 after losing 0.38%. EUR/USD trades at 1.0635 after losing 0.34%.
On the flip side, data for United States Crude Oil Inventories released yesterday at 15:30 UTC is better than expected with 1.17 million, but worse than previous figure of 7.65 million.
What are surprising gainers?
Surprising Gainers are low-performing assets that soared suddenly, and, inconsistent with their past behavior. To be labelled as a "suprising gainer", the stock must gain more than its expected daily return, thus making it surprising. The following list rates assets according to the difference between expectation and actual return: the bigger the difference, the higher the rank.
Dollar/Yen | +0.21% in mid-session
The sentiment that generated 509 pips in cumulative gains over the past 17 days was further evident for USD/JPY. Today's session so far looks to be heading in the same direction — Dollar/Yen trades at 136.41 after gaining 28 pips (0.21%).
USD/SGD | +0.4% in mid-session
Tentatively higher from an earlier low of 1.3391, USD/SGD is up to 1.347 today, adding 53 pips, or 0.4%, to yesterday's closing price of 1.3416.