Top Gainers and Losers: North American Recap for May 27, 2025

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Log in to today's North American session recap - May 27, 2025

The US dollar is leading all majors in what was a steady green day after coming back from closed US Markets.

The risk-on tone that kicked off the week continues to hold, with equity index futures closing higher across most major regions. Once again, Japan's Nikkei leads the charge, surging an impressive 4% on the day. The rally was fueled by comments from Japanese Finance Minister Kato, who announced the government plans to reduce issuance of longer-term bonds. You can read more on that development here.

All US Indices are closing above 1.80% with the Russell 2000 leading the charge at 2.60%, followed by the Nasdaq at 2.35%.

Bitcoin reverses its overnight retracement and is closing around +0.90% on the day, still trading near it's all-time highs, very close to $110,000.

Oil did not benefit from today's positive sentiment having closed down 0.80% on the day, having although bounced off the bottom of its $60-$64 range.

A picture of today's performance for major currencies

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Currency Performance, May 27 - Source: OANDA Labs

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The yen has taken a hit from recent comments that were made at the 2025 BOJ-IMES Conference in Tokyo. The currency had been rallying against the Dollar since the 12th of May. You can take a look at our most recent USD/JPY analysis for more technical levels.
USD/JPY is finishing the day up 1.05%.

The USD is at the other extreme, finding buyers at the 98.70 level, as the DXY is now trading at 99.60. The Dollar Index serves as a reliable gauge of market sentiment toward the Greenback, offering insight into current demand—or lack thereof.

The NZD is the second worst performer of the day as cuts are getting priced in again, with the Kiwi closing down 0.83% against the US dollar.
You can find another in-depth analysis for tonight's RBNZ meeting right here.

Economic Calendar for the May 28th Session

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MarketPulse Economic Calendar for May 27 & 28, 2025 (click to enlarge)

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Today's overnight session is a busy one, starting with the Australian CPI at 21:30 E.T., expected at 2.3%.

We will also finally have the RBNZ Rate decision, coming at 22:00 E.T. Most analysts are expecting a 25 bps cut.

There is a speech from FED's Waller around the same time as he speaks in the 2025 BOJ-IMES Conference in Tokyo, Japan - Waller tends to move US markets particularly when it comes to cuts, as he will present a panel on Monetary Policy.

Tomorrow we will see the release of Germany's Employment data, FOMC Minutes at 2:00 P.M and a few Central Bank speakers with no major actors planned.

Safe Trades!

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