Against the grain: Markets are broadly down – however – GBP/NZD and EUR/NZD 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 leading indices were losing ground — USD/JPY up to 131.7, gaining 0.31%. USD/CHF goes up 0.25%, trading at 0.9309.
What are surprising gainers?
Surprising Gainers are low-performing assets that have sprung up uncharacteristically with their past behavior and beat their expected daily return, making them surprising. The following list rates such assets in line with the difference between expectation and actual return. The greater the difference, the higher the rank.
GBP/NZD | +0.56% in mid-session
The sentiment that generated 283 pips in cumulative gains over the past 5 days was further evident for GBP/NZD. Today's session so far looks to be heading in the same direction — after closing the previous trading day at 1.9629, GBP/NZD is up to 1.9739, which makes for a move of 0.56%/109 pips today.
EUR/NZD | +0.65% in mid-session
After closing the previous trading day at 1.7153, EUR/NZD is up to 1.7265, which makes for a move of 0.65%/111 pips today.