Highlights of the latest Market Research release on USD.
Full research available here.
The British pound retained the leading position for the second week in a row. Nevertheless, the gap between the pound and its peers has narrowed, and GBP Index showed only a 1.38% gain. Meanwhile, after the BoC interest rate decision, the Loonie became the second best performer with a 0.92% growth, thus taking the Kiwi’s place, which fell down to show the worst result of the period. The NZD Index’s sporadic movements were caused by the Fonterra milk prices’ forecast as well as Bill English’s statement on the housing market, and the gauge ultimately ended the period with a 1% loss. Notably, almost all indexes spent the past week below the baseline, posting 0.12-1.00% losses.
After several weeks of tranquility, volatility on the market picked up 9%, but still remained below the one-third level. The most active currency was once again the British pound, even though it lost 5% from the previous reading. The most notable rises of elevated volatility portion was observed in the Kiwi’s and the yen’s gauges, whose readings increased by 12% and 15%, respectively. The jump of the yen’s volatility took place against the background of the G7 meeting at Ise-Shima. Meanwhile, USD/CAD was the leader among the dollar’s pairs in terms of the maximum volatility level, as it jumped with the mix of the BoC rate statement and the good news for the Greenback on Thursday.
The strong growth of the British pound caused the weakening of the most of the USD significance measure components containing USD/GBP. Moreover, some of them even dropped to the negative area. Thus the pair’s component with USD/ JPY posted negative values for more than 70% of the period. The mean correlation between USD/GBP and USD/EUR has weakened by 0.28 points compared with the previous week’s readings. Among the USD/EUR components, the bond with USD/JPY was the only one to show a growth in the average value. The mean of the Greenback’s significance measure, in turn, also has declined comparing with the previous value.
Full research available here.
The British pound retained the leading position for the second week in a row. Nevertheless, the gap between the pound and its peers has narrowed, and GBP Index showed only a 1.38% gain. Meanwhile, after the BoC interest rate decision, the Loonie became the second best performer with a 0.92% growth, thus taking the Kiwi’s place, which fell down to show the worst result of the period. The NZD Index’s sporadic movements were caused by the Fonterra milk prices’ forecast as well as Bill English’s statement on the housing market, and the gauge ultimately ended the period with a 1% loss. Notably, almost all indexes spent the past week below the baseline, posting 0.12-1.00% losses.
After several weeks of tranquility, volatility on the market picked up 9%, but still remained below the one-third level. The most active currency was once again the British pound, even though it lost 5% from the previous reading. The most notable rises of elevated volatility portion was observed in the Kiwi’s and the yen’s gauges, whose readings increased by 12% and 15%, respectively. The jump of the yen’s volatility took place against the background of the G7 meeting at Ise-Shima. Meanwhile, USD/CAD was the leader among the dollar’s pairs in terms of the maximum volatility level, as it jumped with the mix of the BoC rate statement and the good news for the Greenback on Thursday.
The strong growth of the British pound caused the weakening of the most of the USD significance measure components containing USD/GBP. Moreover, some of them even dropped to the negative area. Thus the pair’s component with USD/ JPY posted negative values for more than 70% of the period. The mean correlation between USD/GBP and USD/EUR has weakened by 0.28 points compared with the previous week’s readings. Among the USD/EUR components, the bond with USD/JPY was the only one to show a growth in the average value. The mean of the Greenback’s significance measure, in turn, also has declined comparing with the previous value.