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May 02, 2023Even though markets are flat, AUD/USD and USD/CHF are up and make this list of surprising top currencies gainers.
Markets are mixed with GBP/USD trades at 1.2463 after losing 0.26%. USD/CAD up 0.28%, trading at 1.3578.
This limbo state is reflected by market data published as United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8.
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.
Today's session seems to be pointing upwards and is building on USD/CHF's 6 days of gains (+83 pips).
The Australian dollar rebounds 111 pips from a 7 weeks low
The Australian dollar dropped to 0.6577, hitting its lowest point in 7 weeks. It later recovered 111 pips and is now trading at 0.6688. Today's gains are adding to the Australian dollar's a 4 day bullish trend, during which it gained a total of 27 pips.
