 Overall, the markets in the last full trading week of May was rather mixed. New Zealand Dollar surged initially after hawkish RBNZ. But it failed to extend much gain from there, even though it still ended as the strongest. It looked like Dollar was ready to turn around after strong inflation reading, but it also struggled to close firm. Sterling was the relatively steadier one, as second strongest, on reopening optimism. Yen's selloff was much clearer on the other hand, while Aussie was dragged down by selling against Kiwi. Swiss Franc was also weak, as third worst performer. In other markets, US stocks and yields were bounded in established range. DAX attempted to extend record run but lacked follow through momentum. Nikkei staged a strong rebound, but couldn't recapture 30k handle yet. Gold struggled to get rid of 1900 handle decisively, despite extending recent rise. WTI crude oil failed to break through 67.83 resistance firmly. Bitcoin was extending near term sideway consolidation. We'd see if there would be some more committed moves in June. |
