Free Trial

Month-End Flow a Focus

FOREX
  • The greenback is moderately higher Friday morning, helping bump the USD Index back above the 90.00 handle. Similarly, the EUR trades more favourably, with month-end flow a focus into the early US close. Despite the final May fix falling on Monday, the US and UK market holidays may prompt participants to bring forward month-end flow into today's close. Most sell-side models point to a weak requirement to buy USD.
  • Antipodean FX trades weaker, with AUD and NZD the poorest performers so far Friday. AUD/USD sits just above 50-dma support at 0.7714 while NZD/USD is edging off the multi-month highs posted this week at 0.7316.
  • China FX remains a focal point, with CNH & CNY again stronger and hitting the highest level against the USD since 2018.
  • Today's MNI Chicago PMI will be a highlight, with markets expecting the pace of expansion to slow to 68.0 from 72.1. April PCE data also crosses alongside the latest personal income/spending update. There are no central bank speakers of note.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.