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Weekly Top Gainers/Losers: Canadian dollar and Japanese yen
Top Gainers – The World Market
Over the past 7 days, prices for oil, non-ferrous metals and other mineral raw materials decreased but still remained high. As a result, the currencies of the commodity countries strengthened: the Canadian dollar, the Australian and New Zealand dollars, the Mexican peso, and the South African rand. The Japanese yen weakened after the release of negative economic indicators: Balance of Trade, Industrial Production and a number of other indicators of business activity in the industry. Moreover, the yen was negatively affected by Haruhiko Kuroda's (the head of the BoJ) belief that Japanese inflation is unlikely to reach the +2% target by 2024. In January 2021, it was -0.6% in annual terms. Investors believe that the Bank of Japan will continue its soft monetary policy.
1.Shaw Communications Inc, +46,8% – a Canadian telecommunications company
2. Kawasaki Kisen Kaisha, Ltd, +29,6% – a Japanese transport, shipping company
Top Losers – The World Market
1. K&S AG – a German potash fertilizer company
2. Tokyo Electric Power Company, Inc. – a Japanese electric company.
Top Gainers – Foreign Exchange Market (Forex)
1. CADJPY, CADCHF - the growth of these charts means the strengthening of the Canadian dollar against the Japanese yen and Swiss franc.
2. AUDJPY, NZDJPY - the growth of these charts means the weakening of the Japanese against the Australian and New Zealand dollars.
Top Losers – Foreign Exchange Market (Forex)
1. USDZAR, EURZAR - the drop of these charts means the weakening of the US dollar and euro against the South African rand.
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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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