Against the grain: Markets are broadly down – however – USD/CAD and USD/SGD have managed to record significant gains to stand out as the market's top gainers. On average, these currencies are subdued, although yesterday's price action saw them recording significant gains.
The US dollar is losing strength against a basket of currencies — GBP/USD trades at 1.2139 after losing 0.45%. EUR/USD drawing back 0.26% to 1.047.
While price action maintains a negative bias, United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3.
What are surprising gainers?
Surprising Gainers are low-performing assets that have risen inconsistently with their past behavior and defied their expected daily return, making them surprising. The following list rates assets according to the difference between expectation and actual return: the greater the difference, the higher the rank.
Kicking off the session at 1.3565, USD/SGD currency pair peaks at 1.3597
This session seems to remain in the same lane for now — currently trading at 1.359, USD/SGD remains range-bound between 1.3538 and 1.3597.
Today's gains are adding to US Dollar-Canadian Dollar's a 5 day bullish trend, during which it gained a total of 162 pips.