Dollar dropped to a two-month low ahead of....>

FOREX: Dollar dropped to a two-month low ahead of month-end

- A steady wave of dollar sales into, and beyond, the WMR fix pressured the

greenback to a two-month low Thursday, helped by the generous leg higher in

EUR/USD, which now trades just shy of the $1.11 handle. A cross above there

would be the first since late March. 

- US data generally fared better-than-expected, with weekly continuing claims

dropping against expectations and April durable goods orders falling at a far

shallower pace than expected. The better data helped set up equities well, with

the e-mini S&P climbing to touch new recovery highs and secure a fourth

consecutive session of gains.

- The USD's weakness helped flatter most major pairs, with GBP, AUD all nearing

the week's best levels ahead of the close.

- German retail sales for April, various Eurozone inflation gauges, US MNI

Chicago Business Barometer & personal income/spending and Canadian GDP all take

focus Friday. Speakers include ECB's Visco and Fed's Powell, who speaks at a

moderated virtual discussion.